Warren Buffett tapped the brakes on sales of Bank of America Corp. shares — without stopping — as he extended a selling spree that began in mid-July.
Buffett's Berkshire Hathaway reaped $229 million over three days of selling through Tuesday, according to a regulatory filing. The average price fetched on Tuesday — $39.30 a share — was among the lowest reported since he began whittling the stake.
The fresh disposals marked a slowdown from the eight prior rounds, in which his conglomerate generated an average of about $870 million each time, based on filings that typically spanned three days of trading.
Altogether, Berkshire has generated nearly $7.2 billion since Buffett began shrinking the stake almost two months ago. The conglomerate still holds just over 11% of the bank's stock, worth about $33.7 billion based on Tuesday's closing price of $39.28.
