Tenet Healthcare Sharply Higher After Camber Capital Management Takes 5.7 % Stake

Tenet Healthcare Corp (NYSE: THC) shares are trading higher by $2.68 (18.55 percent) at $17.13 in Monday's session. Investors are following the lead of Camber Capital Management, which reported in a 13-G filing that it has taken a 5.7-percent stake in the downtrodden acute-care firm.

The stock is adding to its nearly $2 gain Friday ($12.65 to $14.45), that followed the resignation of two directors from Glenview Capital.

After a higher open, it saw a 31-cent retreat to $15 before continuing its move higher. So far, the ensuing rally has taken the issue to $17.47, but it has now fallen back to the $17 area.