Peering Into PENN Entertainment's Recent Short Interest
Portfolio Pulse from Benzinga Insights
PENN Entertainment (NYSE:PENN) has seen a 12.83% decrease in short interest since its last report, with 18.93 million shares sold short, representing 14.68% of its float. The average time to cover these short positions is 2.31 days. A decrease in short interest can indicate a more bullish sentiment towards the stock, although it does not necessarily predict a price rise. PENN's short interest is significantly higher than its peer group average of 3.78%.
December 08, 2023 | 5:00 pm
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PENN Entertainment's short interest has decreased, which may suggest a more bullish market sentiment and could potentially lead to a short-term increase in stock price.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to a short-term increase in stock price as short sellers cover their positions. However, the impact may be moderated by other market factors and the already high short interest compared to peers.
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