Warren Buffett’s Berkshire continues to trim Bank of America stake

Warren Buffett’s Berkshire Hathaway (NYSE:BRK.B) has shed more Bank of America (NYSE:BAC) stock, selling shares worth about $900M and bring its stake in the lender down to 10.8%.

Berkshire (BRK.B) sold 22.3M BofA (BAC) shares on Tuesday, Wednesday and Thursday at prices ranging from $39.50 to $41.05 apiece.

The investment giant now holds 835.9M shares in the bank, bringing it closer to the 10% ownership mark. If its stake falls below 10%, Berkshire (BRK.B) won’t be required to disclose BAC stock sales within two business days.

Berkshire (BRK.B) has sold around $8B of BofA (BAC) shares, or close to 20% of its stake, since mid-July. The proceeds, combined with dividends earned since 2011, surpass the $14.6B that Berkshire spent to build its BofA stake, according to Bloomberg.

BofA (BAC) shares have gained 21.4% this year, and 42.7% over the past 12 months.