Another hedge fund has taken a bullish position in retailer J.C. Penney, sending the shares soaring Tuesday.
Kyle Bass's Hayman Capital owns a large equity position in the retailer, according to sources. The stake is reportedly about 5.5 million shares.
Hayman Capital also owns J.C. Penney debt and other financial instruments.
(Read more: JC Penney's 100-year bonds swoon amid retailer's turmoil)
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