(ITUB) - Analyzing Itau Unibanco Holding's Short Interest
Portfolio Pulse from Benzinga Insights
Itau Unibanco Holding (NYSE:ITUB) has seen a 13.21% increase in short interest since its last report, with 28.92 million shares sold short, representing 0.6% of available shares. The short interest ratio is 1.97 days to cover. While an increase in short interest can indicate bearish sentiment, it does not necessarily predict a near-term price drop. ITUB's short interest is below its peer group average of 0.81%.
December 12, 2023 | 1:15 pm
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Itau Unibanco's short interest has increased, which may indicate bearish sentiment but is still below the peer average. This could lead to increased volatility in the short term.
The rise in short interest suggests that some investors are expecting the price of ITUB to fall, which could lead to increased selling pressure. However, since the short interest is below the peer average, it may not be a strong bearish signal. The short interest ratio indicates that it would not take long for short positions to be covered, which could limit downward pressure on the stock price.
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