Looking Into Illinois Tool Works's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Illinois Tool Works's (NYSE:ITW) short percent of float has risen 5.8% since its last report, with 6.63 million shares sold short, which is 2.19% of all regular shares available for trading. It would take traders 7.75 days to cover their short positions on average. The company has less short interest than most of its peers, with the average for its peer group being 3.51%.
July 28, 2023 | 7:45 pm
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The rise in short interest in Illinois Tool Works could indicate a bearish sentiment among investors. However, the company has less short interest than most of its peers.
The rise in short interest could indicate that investors are expecting the price of Illinois Tool Works's stock to fall. However, the fact that the company has less short interest than most of its peers could mean that the bearish sentiment is not as strong as it is for other companies in the same industry.
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