(Bloomberg) — Warren Buffett’s Berkshire Hathaway Inc. bought roughly $813 million worth of Bank of America Corp. stock, piling more funds into the lender amid its 31% slump this year.Berkshire purchased roughly 33.9 million of the company’s shares this week, boosting its stake by more than 3% to about 981.7 million shares, according to a regulatory filing Wednesday. Buffett’s conglomerate added the shares at an average price of $23.99.Berkshire is ramping up its bet on Bank of America after receiving the green light from the Federal Reserve when its holdings surpassed a 10% ownership level, a key threshold requiring regulatory …read more
Source:: Yahoo Finance
