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

Warren Buffett appoints two new vice chairs of Berkshire Hathaway
Posted at 11:49 AM, Aug 05, 2020
and last updated 2020-08-05 12:49:25-04

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.