Peering Into Bank of New York Mellon's Recent Short Interest
Portfolio Pulse from Benzinga Insights
The short percent of float for Bank of New York Mellon (NYSE:BK) has decreased by 8.54% since its last report, with 5.83 million shares sold short, representing 0.75% of all regular shares available for trading. It would take traders 1.21 days on average to cover their short positions. The company's short interest is less than the average of its peer group, which stands at 3.14%.
August 07, 2023 | 1:30 pm
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Bank of New York Mellon's short interest has decreased, indicating a potentially more bullish market sentiment towards the stock. However, this does not necessarily mean the stock price will rise in the near term.
A decrease in short interest can signal a more bullish market sentiment as it indicates fewer investors are betting on the stock's price to fall. However, this does not guarantee a rise in the stock's price as other market factors also play a role.
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