Advertisement
Canada markets closed

  • S&P/TSX

    24,471.17
    +168.87 (+0.69%)
     

  • S&P 500

    5,815.03
    +34.98 (+0.61%)
     

  • DOW

    42,863.86
    +409.76 (+0.97%)
     

  • CAD/USD

    0.7252
    -0.0017 (-0.24%)
     

  • CRUDE OIL

    73.79
    -1.77 (-2.34%)
     

  • Bitcoin CAD

    89,295.19
    +2,661.77 (+3.07%)
     

  • XRP CAD

    0.75
    +0.01 (+1.17%)
     

  • GOLD FUTURES

    2,675.50
    -0.80 (-0.03%)
     

  • RUSSELL 2000

    2,234.41
    +45.99 (+2.10%)
     

  • 10-Yr Bond

    4.0730
    -0.0230 (-0.56%)
     

  • NASDAQ

    18,342.94
    +60.94 (+0.33%)
     

  • VOLATILITY

    20.56
    +0.10 (+0.49%)
     

  • FTSE

    8,249.82
    -3.83 (-0.05%)
     

  • NIKKEI 225

    39,605.80
    +224.90 (+0.57%)
     

  • CAD/EUR

    0.6631
    -0.0011 (-0.17%)
     

Berkshire sells around $1.48 billion Bank of America shares, filing shows

Reuters
·1 min read
FILE PHOTO: Bank of America logo is seen on the entrance to a Bank of America financial center in New York

(Reuters) -Berkshire Hathaway sold about 33.9 million shares of Bank of America for around $1.48 billion over multiple transactions this week, a regulatory filing showed.

After the sale, Berkshire owned about 999 million BofA shares.

Berkshire is one of the Charlotte, North Carolina-based lender's largest shareholder. It also invests in several other banks, including Wells Fargo & Co and JPMorgan Chase

The conglomerate, owned by Warren Buffett, began investing in Bank of America in 2011, purchasing $5 billion of preferred stock plus warrants to buy 700 million common shares, at a time many investors worried about the bank's capital needs.

(Reporting by Chandni Shah and Surbhi Misra in Bengaluru; Editing by Sam Holmes and Tomasz Janowski)