How Is The Market Feeling About PACCAR?
Portfolio Pulse from Benzinga Insights
PACCAR Inc. (NYSE:PCAR) has seen a 21.99% decrease in short interest since its last report, with 5.03 million shares sold short, representing 1.1% of available shares. The average time to cover these short positions is 1.92 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. PACCAR's short interest is below its peer group average of 4.32%. While a decline in short interest does not guarantee a stock price increase, it suggests fewer traders are betting against the stock.
November 20, 2023 | 7:45 pm
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PACCAR Inc. has experienced a significant decrease in short interest, which may suggest a more bullish sentiment among investors and could potentially lead to a short-term increase in stock price.
The reduction in short interest for PACCAR indicates that fewer traders are betting on the stock's decline, which could lead to less selling pressure and a potential increase in the stock price in the short term. However, the impact on the stock price is not guaranteed and will depend on broader market conditions and company performance.
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