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Berkshire Hathaway increased stake in Bank of America Corp

Stock Markets Jul 27, 2020 08:30PM ET
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© Reuters. Berkshire Hathaway increased stake in Bank of America Corp

On the 23rd of July, Berkshire Hathaway (NYSE:BRKa) bought 16 million Bank of America Corp (NYSE:BAC) shares for $398 million at an average price of $24.22 per share. Shares of Bank of America Corp are down -0.94% since the transaction.

Berkshire Hathaway's holding in Bank of America Corp increased to about 998 million shares with the purchase.

Berkshire Hathaway first bought Bank of America Corp stock in the third quarter of 2017. Berkshire Hathaway also owns Wells Fargo & Co (NYSE:WFC), JPMorgan Chase & Co (NYSE:JPM), US Bancorp (NYSE:USB) and Bank of New York Mellon Corp (NYSE:BK). Bank of America Corp is its number one position by number of shares and market value among banks stocks.

Other investors who also added to their Bank of America Corp shares include Bahl & Gaynor, Capital International Inc., and DF Dent & CO. In contrast, California State Teachers Retirement System, Epoch Investment Partners, and FM Global reduced BAC shares, while Bridgewater Associates, Capital Growth Management, and Old Mutual Asset Managers UK sold all their BAC shares.

Berkshire Hathaway increased stake in Bank of America Corp
 

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Oscar Jet
Oscar Jet Jul 28, 2020 3:29AM ET
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