(SCCO) - Analyzing Southern Copper's Short Interest
Portfolio Pulse from Benzinga Insights
Southern Copper's (NYSE:SCCO) short percent of float has risen 4.58% since its last report, with 5.45 million shares sold short, which is 6.4% of all regular shares available for trading. It would take traders 5.6 days to cover their short positions on average. The company's short interest is higher than most of its peers, with an average of 3.82%.
July 27, 2023 | 6:00 pm
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Southern Copper's short interest has increased, indicating a bearish sentiment among traders. However, this does not necessarily mean the stock price will fall in the near term.
An increase in short interest indicates that more traders are betting that the stock price will fall. However, this is not a definitive indicator of a future price decrease. It's also worth noting that Southern Copper's short interest is higher than most of its peers, which could be a cause for concern among investors.
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IMPORTANCE 70
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