Headline : Berkshire slashes Bank of America stake to under 10%, no longer required to disclose frequently

Read more from the original article on here at www.cnbc.com.

---

No. of Paragraph 13

Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America to below 10% amid a selling spree that started in mid-July.

In a Thursday night filing with the U.S. Securities and Exchange Commission, Buffett disclosed the sale of more than 9.5 million shares, split between three transactions made from Tuesday to Thursday. The move brings his holdings down to 775 million shares, or a stake of about 9.987%.

Since the holding is now under the key 10% threshold, Berkshire is no longer required to report its related transactions in a timely manner. The SEC requires shareholders who own more than 10% of a company's equity securities to report transactions involving that company's equity within two business days.

Buffett watchers won't find out the Oracle of Omaha's next moves for a while. The next 13F filing in mid-November will only reveal Berkshire's equity holdings as of the end of September. Berkshire remains BofA's biggest institutional investor.

Read more from the original article on here at www.cnbc.com.

Related Headlines : Berkshire slashes Bank of America stake to under 10%, no longer required to disclose frequently (in Google.com):

Hello, below you have a "Web" tab to read more content and an "Image" tab to get related pictures

Example : Trends, Country, News, Jobs, Scholarships, Investment, Business, Politics, Adverts, Fashion, Events, Technology and more.