How Is The Market Feeling About Progressive?
Portfolio Pulse from Benzinga Insights
The short percent of float for Progressive (NYSE:PGR) has increased by 5.63% since its last report, with 4.38 million shares sold short, representing 0.75% of all regular shares available for trading. This increase in short interest could indicate a bearish market sentiment towards Progressive. However, compared to its peers, Progressive has less short interest as a percentage of float, with the average being 1.65%.
September 12, 2023 | 7:30 pm
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Progressive's short percent of float has increased, indicating a potential bearish sentiment. However, its short interest is less than its peers, which could be a positive sign.
An increase in short interest usually indicates a bearish sentiment, as traders are betting on the stock's price to fall. However, Progressive's short interest is less than its peers, which could mean that the market is less bearish on Progressive compared to other similar companies. This could potentially limit the downside risk for Progressive's stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100