Looking Into Ovintiv's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Ovintiv (NYSE:OVV) has seen an 8.21% increase in its short percent of float since the last report, with 5.21 million shares sold short, representing 2.11% of its available shares. This indicates a bearish sentiment among traders, although it's below the peer group average of 6.46%. The coverage time for these short positions is approximately 1.92 days.
March 06, 2024 | 4:30 pm
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Ovintiv has experienced an increase in short interest, indicating a bearish sentiment but remains below the peer average.
The increase in short interest suggests that traders are betting against OVV, expecting its stock price to fall. This bearish sentiment, especially when compared to its peers, could lead to short-term price pressure. However, the fact that OVV's short interest is below the peer group average might mitigate the impact slightly.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100