This week, Berkshire Hathaway, an investment company belonged to a famous financier Warren Buffett, has sold a substantial amount of the famous depositary bank called The Bank of New York Mellon (BNY Mellon). According to the information transmitted to the U.S. Securities and Exchange Commission, the value of the shareholding has totaled $ 30.9 million.
In just two days (April 7 and 8), Mr. Buffett sold 869,103 securities, thus the stake in BNY Mellon, which remained at the disposal of Berkshire Hathaway, has fallen below 10%.
This is quite important, since the stake has reduced below the threshold of 10%, Warren Buffett’s investment company is no longer required to report on the transactions with BNY Mellon shares. They only have to continue publishing quarterly reports.
Since the beginning of the year, the custodian bank or depositary bank BNY Mellon has lost about 26% of the value. Over the same period of time, the S&P 500 index has decreased by 13.6%.
The material was prepared with the participation of Katya Wilson,
a leading analyst of the brokerage company UFT Group