Looking Into Allstate's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Allstate Corporation's (NYSE:ALL) short interest has decreased by 11.38% since the last report, with 2.84 million shares sold short, representing 1.09% of available shares. The average time to cover these short positions is 2.22 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Compared to its peers, Allstate has a lower short interest percentage of float, with the peer group average at 1.77%.
December 22, 2023 | 3:15 pm
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Allstate's short interest has decreased, which may suggest a more bullish sentiment among investors and could lead to a potential short-term increase in stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to an increase in its price. However, short interest is just one of many factors that can affect stock prices, and the article suggests caution, indicating that the decrease does not necessarily mean the stock will rise in the near term.
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