(BK) - Analyzing Bank of New York Mellon's Short Interest
Portfolio Pulse from Benzinga Insights
Bank of New York Mellon (NYSE:BK) has seen a 21.0% increase in short interest since the last report, with 9.32 million shares sold short, representing 1.21% of available shares. The short interest is below the peer group average of 3.11%. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price decline.
November 28, 2023 | 1:15 pm
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NEUTRAL IMPACT
Bank of New York Mellon's short interest has increased, but remains below the peer average, suggesting mixed market sentiment that may not significantly impact the stock price in the short term.
While the increase in short interest for Bank of New York Mellon indicates that some investors are bearish, the fact that it is still below the peer group average suggests that the sentiment is not overwhelmingly negative. This, combined with the short interest being a relatively small percentage of the float, means that the immediate impact on the stock price may be neutral.
CONFIDENCE 70
IMPORTANCE 50
RELEVANCE 80