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 fallen 3.81% since its last report, with 69.94 million shares sold short, which is 1.01% of all regular shares available for trading. It would take traders 1.45 days to cover their short positions on average. The company's short interest is higher than its peer group average of 0.96%.
July 21, 2023 | 2:00 pm
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NEUTRAL IMPACT
Bank of America's short interest has decreased, indicating a potentially more bullish sentiment among traders. However, its short interest is still higher than its peer group average.
A decrease in short interest can signal a more bullish sentiment among traders, which could potentially lead to an increase in the stock's price. However, the fact that Bank of America's short interest is still higher than its peer group average suggests that there is still a significant amount of bearish sentiment. Therefore, the impact on the stock's price in the short term is uncertain.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100