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 1 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.
