Peering Into Bank of New York Mellon's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of New York Mellon (NYSE:BK) has seen a decrease in short interest, with the short percent of float dropping 7.44% since the last report. The current short interest is 8.61 million shares, or 1.12% of available shares, with a cover time of 1.91 days. This decline in short interest may indicate a more bullish sentiment among investors compared to the peer group average of 3.12% short interest as a percentage of float.
December 22, 2023 | 8:45 pm
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Bank of New York Mellon's short interest has decreased, suggesting a more bullish sentiment among investors. The short interest is lower than the peer group average, potentially indicating a positive outlook for BK.
A decrease in short interest typically suggests that investors are less bearish on a stock, which could lead to a short-term increase in its price. Since BK's short interest is below the peer group average, this could be taken as a positive sign by the market, potentially leading to a short-term uptick in BK's stock price.
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