Shares of Nike (NYSE: NKE) were moving higher today after investors responded favorably to news that Bill Ackman's Pershing Square Capital Management Fund had taken a stake in the company, which was reported in Pershing Square's 13-F filing last night. As a result, shares of Nike were up 3.8% as of 11:43 a.m. ET on Thursday.

Ackman is one of the most respected and attention-grabbing fund managers on Wall Street. One of the investments he's known for is his successful bet on Chipotle when that company was still reeling from the E. coli crisis.

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Source Fool.com