Activist hedge fund manager William Ackman's Pershing Square Capital Holdings has taken a new position in animal health company Zoetis Inc, two sources familiar with the matter said on Tuesday.Ackman has taken the stake with Sachem Head Capital, another activist hedge fund run by Scott Ferguson, who previously worked for Ackman, one of the sources said.Neither Ackman nor Ferguson was immediately available to comment.The Wall Street Journal said Ackman's stake totals $2 billion. A spokeswoman for Ackman could not confirm that figure.
Zoetis Inc is engaged in the discovery, development, manufacture and commercialization of animal health medicines and vaccines, with a focus on both livestock and companion animals. Shares of ZTS traded higher by 8.86% or $3.56/share to $43.72. In the past year, the shares have traded as low as $28.14 and as high as $40.34. On average, 3584730 shares of ZTS exchange hands on a given day and today's volume is recorded at 20201790.
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