Paul Allen has once again pared down his stake in DreamWorks Animation SKG Inc., according to a Reuters report.

The latest move has Allen, through his DW Investment II Inc. investment company, selling about 2.4 million shares at $31.06 a share. The stake was valued at about $75 million.

In August, Allen sold off 10 million shares and resigned from the board of DreamWorks Animation. Allen said at the time that the sale was "part of an ongoing effort to rebalance" his investment portfolio.

Allen's stake in the Glendale-based company (NYSE: DWA) is less than 5 million shares.

Source: Biz Journals