Looking Into Bank of New York Mellon's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of New York Mellon (NYSE:BK) has seen a 9.89% increase in short interest since its last report, with 7.57 million shares sold short, representing 1.0% of its float. The short interest is below its peer group average of 2.46%. This rise in short interest indicates a more bearish market sentiment towards BK, but it's also noted that an increase in short interest can sometimes be bullish for a stock.
March 28, 2024 | 1:15 pm
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Bank of New York Mellon's short interest has increased by 9.89%, with 7.57 million shares sold short, which is 1.0% of its float. This is below the peer group average of 2.46%.
The increase in short interest for Bank of New York Mellon suggests a bearish sentiment among investors. However, since the short interest is below the peer group average, it indicates that BK is not as heavily shorted as its peers, which could mitigate potential negative impacts. Additionally, the article notes that increasing short interest can sometimes be bullish, suggesting a possible short squeeze or a reversal in sentiment if positive news emerges.
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