(COP) - Analyzing ConocoPhillips's Short Interest
Portfolio Pulse from Benzinga Insights
ConocoPhillips's (NYSE:COP) short percent of float has fallen 12.2% since its last report, with 8.72 million shares sold short, which is 0.72% of all regular shares available for trading. This decrease in short interest could signal a more bullish market sentiment towards the stock. Compared to its peers, ConocoPhillips has less short interest as a percentage of float, with an average of 6.26%.
July 24, 2023 | 1:00 pm
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Decrease in short interest could indicate a more bullish sentiment towards ConocoPhillips. The company's short interest is lower than its peers' average.
A decrease in short interest often indicates a more bullish sentiment towards a stock, as it means fewer traders are betting on the stock's price to fall. This could potentially lead to an increase in the stock's price in the short term. Additionally, having a lower short interest than its peers could make ConocoPhillips more attractive to investors.
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