Hedge fund ups stake in Tenet by $16.2M

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Glenview Capital Management recently purchased 827,424 shares of Dallas-based Tenet Healthcare's common stock.

The hedge fund, which already controls 10 percent of Tenet's shares, purchased the 827,424 shares on July 24 at an average price of $19.62, according to Investors Observer. Glenview paid a total of $16.2 million for the shares and now owns 18.7 million shares of Tenet, according to Seeking Alpha.

Tenet is slated to release its second-quarter financial results on Aug. 5. The company announced July 24 that it intends to spin off its revenue cycle management subsidiary Conifer Health Solutions by the end of the second quarter of 2021.

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