Peering Into Marathon Petroleum's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Marathon Petroleum (NYSE:MPC) has seen a 13.01% decrease in short interest since the last report, with 8.89 million shares sold short, representing 2.34% of available shares. The average time to cover these short positions is 3.75 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Marathon Petroleum's short interest is below its peer group average of 8.54%.
January 17, 2024 | 2:00 pm
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Marathon Petroleum'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.
The decrease in short interest for Marathon Petroleum indicates that fewer traders are betting against the stock, which could reduce downward pressure on the share price. This change in short interest could be perceived positively by the market, potentially leading to a short-term increase in the stock price. However, short interest is just one of many factors that can affect stock prices, and the actual movement will depend on broader market conditions and company performance.
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IMPORTANCE 70
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