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. The company's short interest is less than its peer group average of 6.74%.
October 26, 2023 | 5:00 pm
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Devon Energy'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. However, the fact that Devon Energy's short interest is less than its peer group average could mean that the bearish sentiment is not as strong compared to other similar companies.
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