How Is The Market Feeling About Phillips 66?
Portfolio Pulse from Benzinga Insights
Phillips 66's (NYSE:PSX) short percent of float has risen 3.7% since its last report, with 9.95 million shares sold short, which is 2.52% 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, Phillips 66 has less short interest as a percentage of float, with an average of 9.50%.
October 06, 2023 | 2:00 pm
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Phillips 66's short percent of float has increased, indicating a bearish market sentiment. However, it has less short interest compared to its peers.
The increase in short percent of float indicates that more investors are betting against Phillips 66, which could put downward pressure on the stock price in the short term. However, the fact that it has less short interest compared to its peers could mean that it is less likely to experience a significant drop in price.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100