Buffett's Berkshire continues to reduce Bank of America stake

(This Oct. 17 story has been corrected to clarify the timing of when Berkshire's stake in Bank of America fell below 10% in paragraph 3)

(Reuters) - Billionaire Warren Buffett's Berkshire Hathaway has unloaded more Bank of America stock as it continues to trim stake in the U.S. banking giant, according to a regulatory filing.

Berkshire sold nearly 8.7 million shares for $370 million, as of Oct. 15, the filing showed.

Last week, Berkshire sold 9.5 million shares worth $382.4 million, according to a separate regulatory filing. Its sales have reduced its stake in the bank to below 10%.

The investment giant began trimming its stake in mid-July when it sold about 33.9 million shares for around $1.48 billion. Since then, it has netted more than $10 billion from these sales.

Buffett, one of the world's most revered investors, first invested in Bank of America back 2011 when he purchased $5 billion worth of its preferred stock.

(Reporting by Jaiveer Singh Shekhawat in Bengaluru; Editing by Tasim Zahid)

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