Asianfin--Billionaire Warren Buffett's Berkshire Hathaway has reduced its stake in Bank of America, selling enough shares this week to bring its ownership below 10%. According to a regulatory filing on Thursday, Berkshire sold 9.5 million shares valued at $382.4 million.

Under U.S. Securities and Exchange Commission regulations, shareholders owning more than 10% of a company must report their stock transactions within two business days. As a result, Bank of America investors will likely need to wait for Berkshire's upcoming quarterly financial reports or stock holdings disclosures to determine if further sales have occurred.