Peering Into Devon Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's (NYSE:DVN) short percent of float has risen 9.32% since its last report, with 14.44 million shares sold short, which is 2.58% of all regular shares available for trading. It would take traders 1.95 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Devon Energy's peer group average for short interest as a percentage of float is 6.09%, which means the company has less short interest than most of its peers.
August 10, 2023 | 4:45 pm
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Devon Energy's short percent of float has risen 9.32%, indicating a potential bearish sentiment among investors. However, its short interest is less than most of its peers.
The increase in short percent of float indicates that more investors are betting against Devon Energy, which could put downward pressure on the stock price in the short term. However, the fact that its short interest is less than most of its peers could mitigate this effect to some extent.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100