Sources: Hedge funds amass stakes in J.C. Penney, NY Post reports

theflyonthewall.com

According to sources, "at least" two major hedge funds have amassed significant stakes in J.C. Penney, the New York Post reports. One of the investors is a hedge fund worth over $10B, which has picked up a passive stake of 5%-10% in the troubled retailer. The positions will be revealed in securities filings by mid-May, a source says.

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