Activist hedge fund manager William Ackman's Pershing Square Capital Holdings has taken a new position in animal health company Zoetis Inc (NYSE:ZTS) a source familiar with the matter said on Tuesday.
Ackman's $18 billion hedge fund is known for making large bets and speculation that Pershing Square is in the market helped send the stock price up nearly 10 percent.
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Ackman could not immediately be reached for comment.
(Reporting by Svea Herbst-Bayliss; editing by Andrew Hay)