Peering Into Bank of America's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of America's (NYSE:BAC) short percent of float has risen 6.06% since its last report, with 72.83 million shares sold short, which is 1.05% of all regular shares available for trading. It would take traders 1.64 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Bank of America's peer group average for short interest as a percentage of float is 0.96%, which means the company has more short interest than most of its peers.
July 05, 2023 | 4:31 pm
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Bank of America's short percent of float has increased, indicating a potentially bearish sentiment among investors. The company has more short interest than most of its peers.
An increase in short interest can indicate a bearish sentiment among investors. As Bank of America's short percent of float has increased and is higher than most of its peers, this could potentially lead to a decrease in the company's stock price in the short term.
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