Looking Into Penske Automotive Group's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Penske Automotive Group (NYSE:PAG) has seen a decrease in short interest, now at 2.72 million shares or 14.49% of float, down 4.04% since the last report. It would take about 14.34 days to cover all short positions. Short interest is a market sentiment indicator, with a decrease potentially signaling more bullish investor sentiment. PAG's short interest is above its peer group average of 12.88%.
April 03, 2024 | 1:00 pm
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Penske Automotive Group's short interest has decreased, indicating a potential shift towards more bullish sentiment among investors.
A decrease in short interest often suggests that investors are becoming more optimistic about a stock's future performance. For PAG, this decrease could reduce selling pressure and potentially lead to a price increase in the short term, especially since its short interest is higher than its peer average, indicating significant attention.
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