Looking Into Bank of New York Mellon's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of New York Mellon's (NYSE:BK) short percent of float has risen 7.04% since its last report, with 5.93 million shares sold short, which is 0.76% of all regular shares available for trading. It would take traders 1.0 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, BK's peer group average for short interest as a percentage of float is 2.92%, which means the company has less short interest than most of its peers.
October 18, 2023 | 6:15 pm
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Bank of New York Mellon's short interest has increased, indicating a bearish sentiment among investors. However, its short interest is less than its peers' average.
An increase in short interest indicates that more investors are betting that the stock's price will fall. However, the fact that BK's short interest is less than its peers' average could mean that the bearish sentiment is not as strong as it is for other companies in the same sector.
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IMPORTANCE 75
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