(Bloomberg) — Warren Buffett’s sales of Bank of America Corp. (BAC) stock slowed for a third straight round, fetching some of the lowest prices since he began a spree of liquidations in mid-July.
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Buffett’s Berkshire Hathaway Inc. (BRK-B) reaped $338 million by selling the shares this week, according to a filing Wednesday that disclosed his 13th round of disposals. That’s down from an average of about $750 million per round — generally comprising three days — over the course of the past few months.
The average price fetched on Tuesday and Wednesday was $39.40 — less than what he got on all but a few prior trading days.
Buffett, 94, hasn’t said why he’s paring Berkshire’s massive stake in the bank, in which the conglomerate still ranks as the top shareholder. Its remaining holding amounts to 10.2% of the stock, worth more than $31 billion.
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