PennyMac rises 9% on Leon Cooperman’s disclosed stake

PennyMac Financial Services (PFSI) rose 9% after the involvement of Omega Advisors Inc.’s Leon Cooperman was disclosed, Bloomberg reported.

When it became clear that Cooperman’s hedge funds control a 22% stake in the firm, the stock value shot up, Bloomberg reported.

PennyMac, which was founded by former Countrywide executives, recently went public.

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