OMAHA, Neb. (AP) — Warren Buffett’s company has bought $2.1 billion of Bank of America stock over the past three weeks after the latest purchases of $340 million of shares.
The Omaha, Nebraska-based conglomerate has been steadily adding to its stake in the bank since July 20, and Berkshire now holds more than one billion shares of Bank of America stock, which represents 11.9% of the bank’s stock.
Before these latest purchases, Berkshire reported buying 71.5 million shares of Bank of America stock worth nearly $1.8 billion.
Investors follow what Berkshire buys and sells closely because of Buffett’s successful track record.