(Reuters) – Billionaire Warren Buffett’s Berkshire Hathaway (NYSE:) has offloaded more Bank of America shares as it continues to reduce its stake in the U.S. banking giant, documents show.
Records show that as of Oct. 15, Berkshire sold nearly 8.7 million shares for $370 million.
Berkshire sold 9.5 million shares worth $382.4 million last week, according to a separate filing, reducing his stake in the company to less than 10%.
The investment giant began reducing its holdings in mid-July when it sold about 33.9 million shares for about $1.48 billion. It has since made more than $10 billion from those sales.
Buffett, one of the world’s most respected investors, first invested in Bank of America in 2011, when he bought $5 billion of the company’s preferred stock.
