(Bloomberg) — Sales of Bank of America Corp. stock by Warren Buffett have continued to decelerate for the third consecutive time, achieving some of the lowest prices since he initiated a series of liquidations in mid-July.
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According to a filing on Wednesday, Buffett’s Berkshire Hathaway Inc. generated $338 million from selling the shares this week, marking his 13th round of disposals. This figure is down from an average of approximately $750 million per round — typically spanning three days — over the last few months.
The average price obtained on Tuesday and Wednesday was $39.40, lower than what he achieved on almost all prior trading days.
Buffett, aged 94, has not disclosed the reasons behind his decision to reduce Berkshire’s significant stake in the bank, where the conglomerate remains the largest shareholder. Its remaining stake accounts for 10.2% of the stock, valued at over $31 billion.
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