Peering Into ConocoPhillips's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ConocoPhillips's (NYSE:COP) short percent of float has risen 9.09% since its last report, with 12.90 million shares sold short, which is 1.08% of all regular shares available for trading. It would take traders 2.37 days to cover their short positions on average. An increase in short interest can signal that investors have become more bearish. However, ConocoPhillips's peer group average for short interest as a percentage of float is 6.80%, which means the company has less short interest than most of its peers.
October 19, 2023 | 4:00 pm
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ConocoPhillips's short interest has increased, indicating a potentially bearish sentiment among investors. However, its short interest is less than most of its peers.
An increase in short interest often indicates a bearish sentiment among investors, which could potentially lead to a decrease in the stock's price. However, the fact that ConocoPhillips's short interest is less than most of its peers could mitigate this effect.
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