How Is The Market Feeling About MPLX?
Portfolio Pulse from Benzinga Insights
The short percent of float for MPLX (NYSE:MPLX) has increased by 9.43% since its last report, with 18.82 million shares sold short, representing 5.34% of all regular shares available for trading. This could take traders 11.68 days to cover their short positions on average. The increase in short interest could indicate a bearish market sentiment towards MPLX. However, the company's short interest is higher than its peer group average of 3.49%.
September 19, 2023 | 4:00 pm
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The increase in short interest in MPLX could indicate a bearish sentiment towards the stock. However, the company's short interest is higher than its peer group average, which could potentially be bullish.
The increase in short interest indicates that more investors are betting that the price of MPLX will fall. This could put downward pressure on the stock price in the short term. However, the fact that MPLX's short interest is higher than its peer group average could potentially be bullish, as it could lead to a short squeeze if the price rises and short sellers have to cover their positions.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100