Looking Into Diamondback Energy's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Diamondback Energy (NYSE:FANG) has seen a 7.82% decrease in its short percent of float, now at 3.42% with 5.36 million shares sold short. This indicates a more bullish sentiment among investors compared to its peers, where the average short interest as a percentage of float is 6.34%. The reduction in short interest suggests fewer traders are betting against the stock, potentially signaling a positive outlook for FANG in the short term.
February 23, 2024 | 6:30 pm
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Diamondback Energy's short interest has decreased by 7.82%, indicating a more bullish sentiment among investors. With a short interest of 3.42% of its float, it stands below the peer group average of 6.34%, suggesting a potentially positive short-term outlook.
The decrease in short interest for Diamondback Energy suggests that fewer investors are betting against the stock, which can be interpreted as a positive signal for its short-term price movement. Given that it's below the peer average, this further strengthens the bullish case for FANG in the near term.
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