How Is The Market Feeling About Progressive?
Portfolio Pulse from Benzinga Insights
Progressive (NYSE:PGR) has seen a decrease in short interest, with a 7.89% drop since the last report, now standing at 4.10 million shares sold short, or 0.7% of available shares. The average time to cover these short positions is 2.07 days. Short interest is a measure of market sentiment, and a decrease may indicate a more bullish outlook. Progressive's short interest is below its peer group average of 1.79%.
December 15, 2023 | 6:45 pm
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Progressive's short interest has decreased, suggesting a more bullish sentiment among investors. The company's short interest is lower than the peer group average.
A decrease in short interest typically indicates that investors are less bearish on the stock, which could lead to a short-term increase in its price. Progressive's lower than average short interest compared to peers further supports a potentially positive impact on the stock price.
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