Looking Into Southern Copper's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Southern Copper's (NYSE:SCCO) short percent of float has fallen 3.66% since its last report, with 6.50 million shares sold short, which is 7.63% of all regular shares available for trading. It would take traders 6.08 days to cover their short positions on average. The company has more short interest than most of its peers, with an average of 3.80%.
July 11, 2023 | 8:15 pm
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Southern Copper's short interest has decreased, indicating a potentially more bullish market sentiment towards the stock.
Short interest is the number of shares that have been sold short but have not yet been covered. A decrease in short interest can signal that investors have become more bullish, meaning they expect the stock price to rise. Southern Copper's decrease in short interest could therefore indicate a more bullish sentiment towards the stock, potentially leading to an increase in its stock price in the short term.
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