Looking Into Medtronic's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Medtronic's (NYSE:MDT) short interest has decreased by 4.55% since the last report, with 8.33 million shares sold short, representing 0.63% of available shares. The current short interest suggests a bullish sentiment as it is below the peer group average of 3.58%. It would take about 1.27 days for traders to cover their short positions based on average trading volume.
December 29, 2023 | 1:45 pm
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Medtronic's short interest has decreased, indicating a potential increase in bullish sentiment among investors. The short interest is lower than the peer group average, which may be viewed positively by the market.
A decrease in short interest typically suggests that investors are less bearish on the stock, which could lead to a short-term increase in its price. Since Medtronic's short interest is below its peer group average, this may be perceived as a positive indicator by the market, potentially leading to a short-term uptick in the stock price.
CONFIDENCE 80
IMPORTANCE 70
RELEVANCE 100