How Is The Market Feeling About Illinois Tool Works?
Portfolio Pulse from Benzinga Insights
The short percent of float for Illinois Tool Works (NYSE:ITW) has risen 3.65% since its last report, with 6.85 million shares sold short, representing 2.27% of all regular shares available for trading. This increase in short interest could indicate a bearish market sentiment towards ITW. However, compared to its peers, ITW has less short interest as a percentage of float, with the average being 3.56%.
October 18, 2023 | 2:00 pm
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The increase in short interest in Illinois Tool Works could indicate a bearish sentiment, potentially impacting the stock negatively in the short term. However, its lower short interest compared to peers could be a positive sign.
Short interest is a measure of market sentiment. An increase in short interest can indicate that investors are becoming more bearish on a stock, potentially leading to downward pressure on the stock price. However, ITW's lower short interest compared to its peers could indicate less negative sentiment towards the stock, potentially mitigating some of this downward pressure.
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