Looking Into Automatic Data Processing's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Automatic Data Processing's (NYSE:ADP) short percent of float has fallen 10.19% since its last report, with 3.99 million shares sold short, which is 0.97% of all regular shares available for trading. This decrease in short interest could indicate a more bullish market sentiment towards ADP. Compared to its peers, ADP has less short interest as a percentage of float, with an average of 5.77%.
September 20, 2023 | 2:15 pm
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The decrease in short interest in ADP could indicate a more bullish sentiment towards the stock. This, combined with the fact that ADP has less short interest compared to its peers, could potentially impact the stock positively in the short term.
Short interest is an indicator of market sentiment towards a stock. A decrease in short interest can signal a more bullish sentiment, which could potentially lead to an increase in the stock's price. Additionally, having less short interest compared to its peers could make ADP more attractive to investors.
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