Buffett's Berkshire trims BofA stake further by $3 billion in July

Berkshire has sold $767 million of BofA shares between July 25-29, according to a regulatory filing.

Warren Buffett's Berkshire Hathaway has disclosed its third sale of Bank of America shares this month, trimming its sizeable and profitable stake in the lender by more than $3 billion, according to Bloomberg News.

Just 10 days ago, Berkshire had sold roughly 34 million shares of Bank of America for $1.48 billion, a US public filing had said.

The latest stake sales capture Buffett's most stake reduction in a long-term bet, also seen as an endorsement of Bank of America CEO Brian Moynihan's leadership.

The 93-year-old renowned investor is trimming his position as the stock price has risen by 22% this year.

Despite the stake reduction, Buffett's Berkshire still holds shares worth $39.5 billion at Monday’s price.

In 2011, Buffett had invested $5 billion in Bank of America, offering crucial support to the lender following the global financial crisis.