Beijing, September 6 (Xinhua) -- On the evening of September 5 local time, the US Securities and Exchange Commission disclosed documents showing that Berkshire Hathaway, owned by Warren Buffett, sold about 18.75 million shares of Bank of America stock worth approximately $760 million between September 3 and September 15. On Thursday local time, Bank of America's stock price fell 0.89% to close at $38.69 per share.
The "Stock God" has been selling Bank of America stocks since mid July and has reduced its holdings by nearly $7 billion. However, it still holds over 863 million shares of Bank of America stocks, with a value of approximately $34.7 billion based on the latest closing price.
If Buffett continues to sell, his stake in the second largest bank in the United States may fall below the regulatory threshold of 10%. When the shareholding ratio is less than 10%, the transaction will not be disclosed separately.