Berkshire sells off more Moody's shares, stake down to 11.1 percent
(Reuters) - Warren Buffett's Berkshire Hathaway Inc (BRKa.N) (BRKb.N) sold off another 1.375 million of its Moody's Corp (MCO.N) shares in the past three trading days, leaving it with an 11.1 percent stake in the parent of credit rating agency Moody's Investors Service.
Berkshire sold the shares in several transactions on Thursday, Friday and Monday, yielding a total of $84.5 million and leaving it with about 25.3 million shares, according to a regulatory filing on Monday.
Last Wednesday, Berkshire Hathaway said it had sold 1.75 million Moody's shares in the first three days of last week, the first time since 2010 it had sold shares in Moody's.
Berkshire once held a stake of more than 20 percent in Moody's. It has owned shares of the New York-based company for well over a decade.
Moody's shares rose 1.2 percent to $63.50 in regular trading on Monday, hitting a new 52-week high.
- Malaysian plane presumed crashed; questions over false IDs |
- China draws 'red line' on North Korea, says won't allow war on peninsula
- Warning shots fired to turn monitors back from Crimea |
- Libya threatens to bomb North Korean tanker if it ships oil from rebel port