Looking Into Cigna Group's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Cigna Group's (NYSE:CI) short percent of float has risen 28.75% since its last report, with 3.05 million shares sold short, which is 1.03% of all regular shares available for trading. It would take traders 1.7 days to cover their short positions on average. Compared to its peers, Cigna Group has less short interest as a percentage of float, with the average being 8.41%.
July 06, 2023 | 1:46 pm
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Cigna Group's short percent of float has increased, indicating a bearish sentiment among traders. However, compared to its peers, Cigna has less short interest, which could be a positive sign.
An increase in short interest indicates that traders are expecting the stock price to fall, which is a bearish signal. However, Cigna's short interest is less than its peers, which could mean that it is performing better than similar companies in the market. This could potentially offset the bearish sentiment to some extent, leading to a neutral short-term impact.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100