Looking Into Bank of America's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of America's (NYSE:BAC) short percent of float has risen 14.47% since its last report, with 59.91 million shares sold short, which is 0.87% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. Bank of America's peer group average for short interest as a percentage of float is 0.86%, which means the company has more short interest than most of its peers.
September 29, 2023 | 4:00 pm
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Bank of America's short percent of float has risen 14.47% since its last report, indicating a bearish market sentiment. The company has more short interest than most of its peers.
The increase in short interest indicates that more investors are betting that the price of Bank of America's stock will fall. This bearish sentiment could put downward pressure on the stock price in the short term. Furthermore, the fact that BAC has more short interest than most of its peers suggests that it is being viewed more negatively than other similar companies.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100