Bill Ackman's Pershing Square has built a position in Microsoft, as the hedge fund manager said the software giant's recent pullback created a rare opportunity to buy one of the world's dominant techn...

Shares of Microsoft rose more than 3% Friday, bucking the trend on a down day for tech stocks.

Since its first buyback program in 2017, Pershing Square Holdings has repurchased about 75 million shares for $1.9 billion at an average price of $24.99.