(DVN) - Analyzing Devon Energy's Short Interest
Portfolio Pulse from Benzinga Insights
Devon Energy's (NYSE:DVN) short interest has decreased by 12.62% since the last report, with 10.08 million shares sold short, representing 1.8% of available shares. The current short interest suggests a bullish sentiment as it is below the peer group average of 6.22%. Short interest is a market sentiment indicator, and a decrease may imply that investors are less bearish on DVN.
December 04, 2023 | 7:00 pm
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Devon Energy's short interest has decreased, suggesting a more bullish sentiment among investors and potentially less downward pressure on the stock price in the short term.
A decrease in short interest typically indicates that investors are less bearish, which could reduce the likelihood of a stock price decline. Since DVN's short interest is below the peer average, this may be perceived positively by the market, potentially leading to a short-term increase in stock price.
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