J.C. Penney Pushes To New 52-Week High (JCP, DDS)

J.C. Penney JCP has surged around 10% in just the last 5 trading sessions, with most of those gains coming on Monday and Tuesday. During Tuesday's session, JCP shares have added another 4.82% to $35.00, a new 52-week high. Bill Ackman's Pershing Square Capital Management is the second largest holder of JCP shares with a stake valued at around $427 million which accounts for 6.64% of shares outstanding. One of the catalysts that may be driving this stock higher is the recent announcement by Dillard's DDS to spin off some of its real estate holdings into a publicly traded REIT.