Looking 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 4.46% since the last report. The company has 8.23 million shares sold short, which is 1.07% of available shares, taking traders an average of 1.73 days to cover. This decline in short interest may indicate a more bullish sentiment towards BK compared to its peers, which have an average short interest of 3.03% of float.
January 10, 2024 | 1:00 pm
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Bank of New York Mellon's short interest has decreased, suggesting a more bullish market sentiment and potentially less downward pressure on the stock price in the short term.
A decrease in short interest typically indicates that fewer investors are betting on the stock price to fall, which can reduce selling pressure and potentially lead to a price increase. However, short interest is just one of many factors that can affect stock prices, and the article does not guarantee a rise in BK's stock price.
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