Berkshire Hathaway sells Bank of America stock, again

Berkshire Hathaway (BRK-A, BRK-B) continues to reduce its position in Bank of America (BAC). Warren Buffett's holding company has offloaded Bank of America stock for twelve consecutive trading sessions, with Berkshire Hathaway's stake in the bank now standing at approximately 11%.

Catalysts co-hosts Seana Smith and Brad Smith break down the details.

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This post was written by Angel Smith

Video Transcript

Now time for some of today's trending tickers throughout the trading day, you can track the best and the worst performing stocks of the session with Yahoo Finance's trending tickers page scan the QR code below to check out the latest Warren Buffett's Berkshire Hathaway selling more shares of Bank of America reducing its stake in the bank to 11%.

Now Berkshire now has sold Bank of America stock for 12 straight trading sessions.

Shares are relatively flat right now when you take into account what they have shed at least over the last couple of trading sessions, they shared a total of 5.8 million Bank of America shares in separate sales that was on Friday on Monday and uh Tuesday here for almost 228.7 million average selling price at 39.4 $39.45 a share.

That's according to that new regulatory filing, the latest action, you're extending that selling streak of the 12 consecutive sessions that had matched the 12 consecutive sessions from July 17th through August 1st.

So again, just unloading more.

It's another day we're talking about the same thing.

Yeah, I mean, if we're looking at where he's ultimately selling some of the Bank of America position here, uh The, the Berkshire Hathaway firm has been so good at dollar cost averaging that even as you're looking at the profits that they are taking and the latter step down that we've been watching since July and the share price action every time we get more of the details about how much they've been sharing and selling and at what pace they've been selling the dollar cost averaging economics, I imagine continue to play themselves out in Berkshire Hathaway's favor on and at this juncture, even if you were looking at and hearing from some of the people that we've had on the program talking about where XL F and particularly financial sectors could catch a bid even as we get into the cutting cycle here.

I think that's where we might see even more of the activity around Berkshire Hathaway who's been known to chart forward where buying into certain positions based on the larger economic cycle and where the cutting could play well into financials more broadly, wouldn't be surprised if they continue to keep a certain amount on the table and then buy back in at a certain point.

We'll see if they do so or if they rotate into some of the other sexier elements of the market here.

Uh given that they've been or had been historically late to tech for a while.

But now Apple one of the more outsized, largest positions that they have.