Looking Into PennantPark Floating Rate's Recent Short Interest
Portfolio Pulse from Benzinga Insights
PennantPark Floating Rate (NYSE:PFLT) has seen a 31.9% decrease in short interest, with 642 thousand shares sold short, representing 1.11% of available shares. The average time to cover these short positions is 1.37 days. A decrease in short interest can indicate a more bullish sentiment towards the stock. PFLT has less short interest compared to its peer group average of 2.38%.
January 22, 2024 | 2:30 pm
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PennantPark Floating Rate's short interest has decreased, which may suggest a more bullish market sentiment and could potentially lead to a short-term positive impact on the stock price.
A decrease in short interest typically indicates that investors are less bearish on a stock, which can lead to a positive perception and potentially an increase in stock price in the short term. However, the article also cautions that this does not guarantee a rise in the stock price, hence the importance is not at the maximum level.
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