Berkshire Hathaway Cuts Stake in Bank of America

Key TakeawaysWarren Buffett's Berkshire Hathaway reduced its stake in Bank of America by 33.9 million shares over a three-day period last week.The selloff reduced the company's holdings by about $1.5 billion, although it continues to have nearly 1 billion shares of the bank in its portfolio.Berkshire continues to own almost a 13% stake in Bank of America. Bank of America (BAC) shares fell in intraday trading Monday after Warren Buffett’s Berkshire Hathaway (BRK.A) cut its stake in the bank by $1.5 billion. ...