Looking Into Eastern Bankshares's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Eastern Bankshares (NYSE:EBC) has seen a decrease in short interest, with the short percent of float falling 7.61% to 2.67% of all shares available for trading. The current short interest stands at 4.66 million shares, requiring approximately 2.84 days for traders to cover their short positions. This decline in short interest could indicate a more bullish sentiment towards EBC among investors. Additionally, compared to its peers, EBC has a lower short interest percentage, with the peer group average at 4.99%.
April 05, 2024 | 4:00 pm
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Eastern Bankshares's short interest has decreased, indicating a potentially more bullish sentiment towards the stock.
A decrease in short interest typically suggests that investors are becoming more optimistic about a stock's future performance. For Eastern Bankshares, the reduction in short interest, coupled with its lower short interest compared to peers, could lead to increased investor confidence and potentially a short-term price increase.
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