It Looks Like This Fund Just Tried to Call the Top in Microsoft's Stock
ValueAct may not be a fan of Microsoft's push into the cloud.

Activist investor Morfit Mason and his activist fund ValueAct sold about 7 million shares of Microsoft Corp. (MSFT) over the past week, according to a regulatory filing released Tuesday. The sale netted about $500 million, with shares being sold at a range between $72.50 and $72.61.

The investment fund announced a $2 billion stake in Microsoft in 2013. 

Morfit is a member of Microsoft's board of directors, a position he was given following ValueAct's activist campaign in 2013. Former CEO Steve Ballmer left the company shortly after Morfit was given a board seat, but said at the time that his resignation was not related to ValueAct's campaign. 

Microsoft shares were down 0.85% to $72.17 in premarket trading Wednesday. 

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