Looking Into ON Semiconductor's Recent Short Interest
Portfolio Pulse from Benzinga Insights
ON Semiconductor's (NYSE:ON) short interest has decreased by 3.82%, now representing 7.05% of its float with 22.61 million shares sold short. It would take about 4.01 days to cover all short positions. This decline in short interest could indicate a more bullish sentiment towards ON Semiconductor compared to its peers, where the average short interest is 4.13% of the float.
April 23, 2024 | 5:45 pm
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ON Semiconductor's short interest has decreased, indicating a potential increase in 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 ON Semiconductor, this reduction in short interest could reduce downward pressure on the stock price, potentially leading to a short-term increase as market sentiment improves.
CONFIDENCE 80
IMPORTANCE 75
RELEVANCE 90