Ajit Jain, an insurance executive at Berkshire Hathaway (BRKA.US), has sold more than half of his stake in the company, according to a new SEC regulatory filing.
The nearly 73-year-old vice chairman disposed of 200 Berkshire Class A shares on Monday at an average price of $695,418 per share for a total of nearly $139 million. Monday's sale represented 55% of his total stake in Berkshire.
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Open account Try demo Download mobile app Download mobile appThe move marked the biggest drop in Jain's holdings since he joined Berkshire in 1986. It is worth recalling that the conglomerate's market value reached $1 trillion in late August.
The company's shares tested the 50-day exponential moving average (blue curve on the chart) on Tuesday. Source: xStation
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