Berkshire Hathaway sold about 33.9 million Bank of America shares for about $1.48 billion during multiple transactions this week, a regulatory filing showed.
After the sale, Berkshire owned about 999 million shares of Bank of America stock.
Berkshire is one of the largest shareholders in the Charlotte, North Carolina-based bank. It also invests in several other banks, including Wells Fargo & Co, opens new tab and JPMorgan Chase.
The Warren Buffett-owned group began investing in Bank of America in 2011, buying $5 billion in preferred stock plus warrants to buy 700 million common shares, at a time when many investors were concerned about the bank's capital needs.
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