(PSX) - Analyzing Phillips 66's Short Interest
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. It would take traders 2.7 days to cover their short positions on average. The company's short interest is less than its peer group average of 9.50%.
October 23, 2023 | 3:00 pm
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Phillips 66's short interest has increased, indicating a bearish sentiment among traders. However, its short interest is less than its peer group average.
An increase in short interest indicates that more traders are betting that the stock price will fall. This can create a bearish sentiment around the stock. However, Phillips 66's short interest is less than its peer group average, which could mean that the bearish sentiment is not as strong compared to its peers.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100