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Warren Buffett ’s Berkshire Hathaway sold a substantial amount of Bank of New York Mellon stock.

Subsidiaries of Berkshire Hathaway (ticker: BRK.A ) sold a total of 869,103 Bank of New York shares (BK) on April 7 and 8 for $30.9 million. According to a form Buffett’s company filed with the Securities and Exchange Commission, Berkshire Hathaway now has overall ownership of 88.1 million shares of the bank.

Berkshire Hathaway noted in the filing that it now owns less than 10% of Bank of New York. Under that threshold, Buffett’s firm is no longer obligated to report trades in the stock, apart from quarterly holdings.

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Berkshire Hathaway didn’t immediately respond to a request for comment.

Bank of New York stock has slipped 26.2% year to date through Thursday’s close, compared with a 13.6% drop in the S&P 500 index, a broader measure of the markets.

Inside Scoop is a regular Barron’s feature covering stock transactions by corporate executives and board members—so-called insiders—as well as large shareholders, politicians, and other prominent figures. Due to their insider status, these investors are required to disclose stock trades with the Securities and Exchange Commission or other regulatory groups.

Write to Ed Lin at edward.lin@barrons.com and follow @BarronsEdLin.