Warren Buffett’s Bank of America stock sale spree surpasses $10 billion

Warren Buffett's Berkshire Hathaway has now made over $10 billion from selling its Bank of America shares. In the latest round, it earned $383 million.

Warren Buffett’s conglomerate has added another zero to its haul from a months-long selling spree of Bank of America Corp. stock.

Warren Buffett, Chairman and CEO of Berkshire Hathaway, speaks during a game of bridge after the annual Berkshire Hathaway shareholders meeting in Omaha. Warren Buffett started selling in mid-July, impacting the stock price. The latest sale generated $383 million, with shares closing at $39.96 on Monday. (AP)

In its 14th round of disposals, Berkshire Hathaway Inc. eclipsed $10 billion of total proceeds from whittling its stake in the second-largest US bank, a regulatory filing on Monday shows. Buffett, 94, began paring the massive investment in mid-July, putting pressure on the stock’s price ever since.

In the latest batch, Berkshire reaped $383 million over three trading days, as it unloaded fewer shares than in many previous rounds. Buffett’s selling has tended to trickle off when the stock’s price falls toward $39, his company’s filings show. The shares closed at $39.96 on Monday.

Berkshire’s remaining 10.1% stake is worth about $31.4 billion at that price.