(PAYX) - Analyzing Paychex's Short Interest
Portfolio Pulse from Benzinga Insights
Paychex's (NASDAQ:PAYX) short percent of float has fallen 7.41% since its last report, with 8.85 million shares sold short, which is 2.75% of all regular shares available for trading. It would take traders 4.0 days to cover their short positions on average. Compared to its peers, Paychex has less short interest as a percentage of float, with an average of 6.14%.
June 30, 2023 | 6:45 pm
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Paychex's short interest has decreased, indicating a potentially more bullish market sentiment towards the company. However, this does not necessarily mean the stock price will rise in the near term.
Short interest is the number of shares sold short but not yet covered. A decrease in short interest can signal a more bullish sentiment towards a stock. However, it's not a guarantee that the stock price will rise in the near term. Paychex's short interest has decreased, but it's important to consider other market factors as well.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100