Looking Into Elevance Health's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Elevance Health (NYSE:ELV) has seen a 10.89% decrease in short interest, now at 2.09 million shares or 0.9% of float, taking 2.97 days on average to cover. This decline in short interest could indicate a more bullish sentiment towards ELV compared to its peers, where the average short interest as a percentage of float is 4.16%.
April 25, 2024 | 1:00 pm
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Elevance Health's short interest decrease suggests a potential bullish sentiment among investors, contrasting with a higher peer average short interest.
A decrease in short interest typically indicates that investors are less bearish on a stock, expecting its price to rise. Given that Elevance Health's short interest is significantly lower than its peer group average, this could suggest a stronger confidence in the company's performance and a potential increase in its stock price in the short term.
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IMPORTANCE 75
RELEVANCE 90