Ackman's Pershing Square takes off coronavirus hedges

LONDON (Reuters) - Veteran investor Bill Ackman said he has taken off credit market hedges and reinvested the money into new and existing stock holdings after turning "increasingly positive" on stock and credit markets.Ackman, who oversees Pershing Square Capital Management, initially took out the hedges - credit protection on investment grade and high yield credit indices - at the start of March as panic caused by coronavirus began cratering markets globally.In a letter to investors filed by..