Looking Into Devon Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's (NYSE:DVN) short percent of float has risen 10.43% since its last report, with 13.01 million shares sold short, which is 2.33% of all regular shares available for trading. It would take traders 1.31 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. Devon Energy's peer group average for short interest as a percentage of float is 6.74%, which means the company has less short interest than most of its peers.
October 10, 2023 | 3:00 pm
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Devon Energy's short percent of float has risen 10.43%, indicating a potential bearish sentiment among investors. However, it has less short interest than most of its peers.
The increase in short percent of float indicates that more investors are betting against Devon Energy, which could put downward pressure on the stock price in the short term. However, the company's lower short interest compared to its peers could mitigate this effect.
CONFIDENCE 85
IMPORTANCE 75
RELEVANCE 100