Richard Perry's Hedge Fund Now Owns 8.62% of JCP, Bought 3 Million of Ackman's Shares at $12.90 in the Secondary Offering

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Not only did Richard Perry hold on to his position in JCP, he took the other side of Ackman's sale and upped his ownership in JCP to 8.62% from 7.26%. He bought 3 million shares in the offering. So it appears that hedge funds aren't giving up on the equity.