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Buffett's Berkshire sells more Bank of America shares

Investing.com -- Warren Buffett's Berkshire Hathaway (NYSE:BRKb) has sold more shares of Bank of America, the August 1 filing showed.

The investment conglomerate has sold over $3.8 billion worth of the bank's shares since mid-July, according to calculations done by Reuters. 

The filing shows that Buffett was selling BAC shares on three days ending August 1. Prices at which he was selling the stock ranged from as low as $39.47 to as high as $41.84. 

This move follows a substantial increase in Bank of America's stock price since late last year. As a result, the value of Berkshire's holding had tripled to over $45 billion

Despite these sales, Berkshire remains the largest shareholder in the bank, holding 942.2 million shares in Bank of America. 

However, Buffett's decision to trim the position has sparked interest given his previous strong support for the bank and its CEO, Brian Moynihan.

Bank of America shares are up 17.3% year-to-end.

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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71.4% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.