What Happened: Berkshire now owns close to 10% of the second-largest U.S. bank after the latest disposals over three trading days through Tuesday.
Buffett, 94, began trimming the massive investment in mid-July. Despite months of sales, Berkshire's remaining stake in Bank of America is valued at $32.1 billion, based on Tuesday's closing price, maintaining its position as the largest shareholder.
Additionally, Ajit Jain, a top executive at Berkshire Hathaway, sold more than half of his shares in the Buffett-led company for approximately $139 million amid speculation on stock valuation and potential tax policies.
Price Action: Bank of America stock closed at $39.45 on Tuesday, down 1.05% for the day. In after-hours trading, the stock dropped 0.051%. Year to date, the stock has gained 16.37%, accroding to data from Benzinga Pro.
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