David Einhorn's hedge fund has closed its short position in J.C. Penney (JCP +3.8%) and moved...

|About: J.C. Penney Company Inc. (JCP)|By:, SA News Editor

David Einhorn's hedge fund has closed its short position in J.C. Penney (JCP +3.8%) and moved out of a long position in Microsoft (MSFT +0.1%), according to Reuters. Shares of both companies are near session highs following the report.