Peering Into Microchip Technology's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Microchip Technology's (NYSE:MCHP) short percent of float has risen 5.24% since its last report, with 19.70 million shares sold short, which is 4.22% of all regular shares available for trading. It would take traders 4.23 days to cover their short positions on average. The company's short interest is less than its peer group average of 4.67%.
July 17, 2023 | 7:30 pm
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Increased short interest in Microchip Technology could indicate bearish market sentiment towards the stock. However, its short interest is less than its peer group average, which could be a positive sign.
Short interest is the number of shares sold short but not yet covered. An increase in short interest can indicate bearish market sentiment, meaning investors expect the stock price to fall. However, Microchip Technology's short interest is less than its peer group average, which could suggest that the market sentiment towards the company is not as bearish as for its peers.
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