(MCHP) - Analyzing Microchip Technology's Short Interest
Portfolio Pulse from Benzinga Insights
Microchip Technology's (NYSE:MCHP) short percent of float has fallen 8.86% since its last report, with 18.26 million shares sold short, which is 3.91% of all regular shares available for trading. It would take traders 3.54 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average for short interest as a percentage of float being 4.37%.
August 17, 2023 | 3:30 pm
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Microchip Technology's short interest has decreased, indicating a potentially more bullish market sentiment towards the company's stock.
Short interest is the number of shares that have been sold short but have not yet been covered or closed out. A decrease in short interest can signal that investors have become more bullish, meaning they expect the stock price to rise. As such, the decrease in Microchip Technology's short interest could potentially lead to an increase in its stock price in the short term.
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IMPORTANCE 75
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