Looking Into Progressive's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Progressive's (NYSE:PGR) short percent of float has risen 11.32% since its last report, with 3.46 million shares sold short, which is 0.59% of all regular shares available for trading. It would take traders 1.0 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Progressive's peer group average for short interest as a percentage of float is 2.77%, which means the company has less short interest than most of its peers.
August 04, 2023 | 11:49 am
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Progressive's short percent of float has risen 11.32%, indicating a bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in short interest indicates that more investors are betting against Progressive, which could put downward pressure on the stock. However, the fact that Progressive has less short interest than most of its peers could mean that it is less likely to experience a significant drop in price due to short selling.
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IMPORTANCE 75
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