Berkshire Hathaway sells further $760m of Bank of America shares - reports

$7bn since July

Warren Buffett's Berkshire Hathaway has continued to scale back its holding in Bank of America (BofA), selling 18.7 million shares between 3 September and 5 September to the value of approximately $760m.

Having begun offloading shares in BofA in mid-July, Berkshire Hathaway has now sold almost $7bn of stock in the second-largest US bank, according to a report by Reuters. However, Buffett's conglomerate currently remains BofA's largest shareholder with a stake of about 11.1%. Berkshire Hathaway first invested in Bank of America in 2011 when the group bought $5bn of preferred stock in the then-beleaguered bank through a private deal.  Shares of Bank of America were up 1.7% at $39.4 at the time of publication,  while year to date the stock is up 17.1%, according to data from MarketWatch.