Peering Into Sysco's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Sysco Corporation (NYSE:SYY) has seen a decrease in short interest, with the short percent of float falling 11.25% since the last report, now standing at 2.13% of all shares available for trading. This indicates a bullish sentiment among investors, as fewer shares are being shorted. The current short interest represents 10.60 million shares, and based on trading volume, it would take approximately 2.78 days to cover all short positions. This change in short interest is compared to Sysco's peers, where the average short interest as a percentage of float is 4.25%, suggesting Sysco has less short interest than most of its peers.
March 21, 2024 | 1:30 pm
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Sysco Corporation's short interest has decreased, indicating a bullish sentiment among investors. This could suggest a potential short-term increase in stock price as fewer shares are being shorted.
A decrease in short interest typically indicates that investors are less bearish on the stock, expecting its price to rise. Given that Sysco's short interest is now below the peer average, this could be interpreted as a positive signal for the stock's short-term performance. However, it's important to consider other market factors and not rely solely on short interest as a predictor of stock price movements.
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