How Is The Market Feeling About Phillips 66?
Portfolio Pulse from Benzinga Insights
Phillips 66 (NYSE:PSX) has seen a 17.75% decrease in short interest, now at 8.04 million shares or 1.9% of float, taking 3.1 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards PSX compared to its peers, where the average short interest as a percentage of float is 8.60%.
April 24, 2024 | 5:45 pm
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Phillips 66 has experienced a significant decrease in short interest, suggesting a potential increase in bullish sentiment among investors.
A decrease in short interest typically indicates that investors are less bearish on a stock, potentially leading to an increase in its price in the short term. Given that PSX's short interest is significantly below its peer average, this could suggest stronger confidence in PSX's market performance relative to its competitors.
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IMPORTANCE 75
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