Investors Thursday shrugged off billionaire investor Warren Buffett's decision to cut his stake in PNC Bank Corp.

Trading in the shares was heavy, sending the stock down only 12.5 cents, to $30.625 a share, after Mr. Buffett's Omaha investment vehicle, Berkshire Hathaway Inc., disclosed its stake in the Pittsburgh bank company had fallen below 5%, from 8.3% at the end of 1994.

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