(PGR) - Analyzing Progressive's Short Interest
Portfolio Pulse from Benzinga Insights
Progressive's (NYSE:PGR) short percent of float has risen 5.63% since its last report, with 4.38 million shares sold short, which is 0.75% of all regular shares available for trading. It would take traders 1.9 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 1.65%, which means the company has less short interest than most of its peers.
August 25, 2023 | 5:00 pm
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Progressive's short percent of float has increased, indicating a potential bearish sentiment among investors. However, it has less short interest than most of its peers.
An increase in short interest often indicates a bearish sentiment among investors, as they expect the stock price to fall. However, Progressive's short interest is less than its peers, which could mean that the bearish sentiment is not as strong compared to other companies in the same industry.
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IMPORTANCE 75
RELEVANCE 100