Looking Into Ovintiv's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Ovintiv Inc. (NYSE:OVV) has seen a 13.58% decrease in short interest since its last report, with 5.63 million shares sold short, representing 2.29% of its float. The average time to cover these short positions is 2.8 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. Ovintiv's short interest is below its peer group average of 6.18%.
January 18, 2024 | 2:30 pm
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Ovintiv's decrease in short interest suggests a more bullish market sentiment, which could lead to a potential short-term increase in stock price as the market adjusts to the new information.
The reduction in short interest for Ovintiv indicates that fewer traders are betting against the stock, which could 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 the near term.
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