Looking Into Illumina's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Illumina's (NYSE:ILMN) short interest has increased by 5.16% since the last report, with 5.21 million shares sold short, representing 3.67% of its float. It would take about 3.27 days to cover all short positions. Short interest is a key indicator of market sentiment, and an increase suggests a more bearish outlook by investors. However, compared to its peers, Illumina has a lower short interest percentage of 3.67% versus the peer group average of 5.28%.
April 12, 2024 | 3:45 pm
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Illumina's increased short interest suggests a bearish market sentiment, but its lower than peer average indicates relative strength.
The rise in short interest for Illumina indicates a bearish sentiment among investors, which could lead to short-term price pressure. However, being lower than its peer average suggests that Illumina might be in a relatively stronger position within its sector, potentially mitigating some negative impacts.
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