(ITW) - Analyzing Illinois Tool Works's Short Interest
Portfolio Pulse from Benzinga Insights
Illinois Tool Works's (NYSE:ITW) short percent of float has risen 3.65% since its last report, with 6.85 million shares sold short, which is 2.27% of all regular shares available for trading. It would take traders 6.5 days to cover their short positions on average. The company has less short interest than most of its peers, with the peer group average at 3.56%.
October 02, 2023 | 7:45 pm
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Increased short interest in Illinois Tool Works could indicate bearish market sentiment, but it's below the average of its peer group. This could lead to increased volatility in the short term.
Short interest is a measure of market sentiment. An increase in short interest can indicate that investors are becoming more bearish on a stock. However, ITW's short interest is below the average of its peer group, which could mean that the market sentiment is not as bearish as it seems. This could lead to increased volatility in the short term as traders cover their short positions.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100