Looking Into Progressive's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Progressive's (NYSE:PGR) short percent of float has risen 12.28% since its last report, with 3.74 million shares sold short, which is 0.64% of all regular shares available for trading. This increase in short interest can act as an indicator of market sentiment towards a particular stock. However, compared to its peers, Progressive has less short interest as a percentage of float, which is 1.72% on average.
October 03, 2023 | 1:30 pm
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Progressive's short interest has increased, indicating a bearish sentiment. However, it has less short interest compared to its peers, which could be a positive sign.
An increase in short interest usually indicates a bearish sentiment towards the stock. However, Progressive's short interest is less than its peers, which could mean that the market is less bearish on Progressive compared to its peers. This could potentially limit the downside risk for the stock in the short term.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100