Billionaire Warren Buffett's recent run of Bank of America Corp. (BofA) stock sell-offs struck again this week, with his Berkshire Hathaway Inc. liquidating nearly $7 billion in BofA shares over the past two months.
Buffett's conglomerate, which is still the biggest shareholder of the second largest U.S. bank, has greatly reduced its BofA portfolio since mid-July while giving no explanation for the moves.
According to Bloomberg, the latest unloading occurred Thursday, when Berkshire Hathaway reported liquidating $760 million of BofA stock. Last week, the investment giant sold 21 million shares for $848 million.
