AP
- Warren Buffett spent $522 million on Bank of America stock in three days this week, SEC filings show.
- The billionaire investor and Berkshire Hathaway boss has now plowed about $1.7 billion into the bank in less than two weeks, boosting his stake to more than 1 billion shares or 11.8%.
- Buffett was panned for doing little during the coronavirus crash, but Berkshire has now made a $10 billion acquisition, likely spent more than $5 billion on stock buybacks, and significantly ramped up its stake in Bank of America in recent weeks.
- Visit Business Insider's homepage for more stories.
Warren Buffett shelled out $522 million on Bank of America stock in the past three days, lifting his total spending on the banking titan's shares in the past two weeks to about $1.7 billion.
The famed investor and Berkshire Hathaway CEO snapped up 21.2 million shares at an average price of about $24.65 between Tuesday and Thursday, Securities and Exchange Commission filings show. The purchases boosted his stake in the bank to around 1.02 billion shares or 11.8% — worth more than $25 billion as of Wednesday's close.
See the rest of the story at Business Insider
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See Also:
- Warren Buffett's $800 million bet on Bank of America is almost a guaranteed winner, Berkshire Hathaway investor Bill Brewster says
- Warren Buffett's Apple bet ranks among the 'best investments ever,' Berkshire Hathaway shareholder Bill Brewster says
- Warren Buffett dumped the 'Big 4' airlines in April. Their massive losses last quarter show what he was worried about.
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