QBE has cut its stake in Elders to 7.95% from 10.23% through a series of sharemarket trades.

The insurer started reducing its stake on February 4, when it sold 1 million shares for $120,201.

It then steadily sold down further, with the latest transaction coming last Wednesday, when 1.3 million shares were offloaded for $143,283.

To date QBE has made more than $1.1 million selling down its stake in Elders.