Peering Into PPG Indus's Recent Short Interest
Portfolio Pulse from Benzinga Insights
PPG Industries (NYSE:PPG) has seen a decrease in short interest, with the short percent of float dropping 11.84% since the last report. The company has 1.59 million shares sold short, representing 0.67% of available shares. The average time to cover these short positions is 1.0 day. Short interest is a market sentiment indicator, and a decrease suggests investors may be more bullish on PPG. Compared to its peers, PPG has a lower short interest as a percentage of float, with the peer group average at 4.02%.
November 13, 2023 | 5:30 pm
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PPG Industries has experienced a significant decrease in short interest, suggesting a more bullish sentiment among investors compared to the last reporting period.
A decrease in short interest typically indicates that investors are less bearish on a stock, which could lead to a potential increase in its price in the short term. Since PPG's short interest is lower than its peers, this might be viewed positively by the market, potentially leading to a short-term price increase.
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