Looking Into Sysco's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Sysco Corporation (NYSE:SYY) has seen a decrease in short interest, with the current short percent of float at 1.27%, down 4.51% from the last report. The total shares sold short are 6.33 million, requiring approximately 2.65 days for traders to cover their short positions. This decline in short interest could indicate a more bullish sentiment towards SYY among investors. Additionally, Sysco's short interest is below its peer group average of 4.58%, suggesting it is less shorted compared to similar companies.
April 24, 2024 | 7:45 pm
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Sysco's decrease in short interest suggests a potential positive shift in market sentiment, possibly leading to a short-term increase in stock price.
A decrease in short interest typically indicates that investors are becoming more bullish on a stock, expecting its price to rise. For Sysco, this reduction in short interest, especially being below its peer group average, could reduce selling pressure and potentially lead to a short-term price increase as market sentiment improves.
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