Berkshire Hathaway Continues Selling Streak in Bank of America Shares

Berkshire Hathaway has extended its selling streak of Bank of America (BofA) shares to nine consecutive days, raising questions about the future of its investment strategy. The Omaha-based conglomerate sold 18.4 million shares from Thursday to Monday, amounting to $767 million at an average price of $41.65, according to a recent regulatory filing. This marks a significant reduction, with a total of 71.2 million shares sold over the past nine trading sessions, translating to over $3 billion in sales. Despite the selling spree, Berkshire remains the largest shareholder of BofA, holding 961.6 million shares valued at approximately $39.5 billion, which represents a 12.3% stake in the bank. This position has slightly increased in value from $39.2 billion at the end of March, indicating that the conglomerate is still heavily invested in the financial institution. Market analysts speculate that Berkshire may be capitalizing on profits following a strong performance by BofA this year. The recent sales could reflect a strategic decision by Warren Buffett and his team to realize gains while maintaining a significant stake in the bank. Berkshire Hathaway is expected to release its second-quarter earnings report on Saturday, which will provide further insights into the conglomerate's investment strategies and its largest holdings, including BofA. Investors and analysts alike will be closely monitoring the outcomes of this report for indications of future moves.