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SAC Capital ups stake in Zynga

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Shares of Zynga Inc (NASDAQ:ZNGA) are higher today on news that Steven Cohen’s investment fund SAC Capital Advisors increased their stake in the social media gaming provider from 2.2 percent to 5.3 percent. The SEC filings indicate that SAC owns 38.7 million shares in Zynga, which makes them the single largest shareholders in game maker.