Warren Buffett’s firm has bought $2.1B of Bank of America stock

National News

FILE – In this May 5, 2019, file photo Warren Buffett, Chairman and CEO of Berkshire Hathaway, smiles as he plays bridge following the annual Berkshire Hathaway shareholders meeting in Omaha, Neb. Buffett’s company has purchased another $400 million of Bank of America stock less than a week after buying roughly $800 million of the bank’s stock. Berkshire Hathaway Inc. said Monday, July 27, 2020 it held 998 million Bank of America shares after the latest purchases, which represents roughly 11.5% of the bank’s stock. (AP Photo/Nati Harnik, File)

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. 


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