Peering Into Bank of New York Mellon's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of New York Mellon (NYSE:BK) has seen a decrease in short interest, now at 7.07 million shares or 0.94% of float, indicating a potential shift in market sentiment towards more bullish views. The short interest decline from the last report is 6.93%, with a current cover time of 2.36 days based on trading volume. Compared to its peers, BK has a lower short interest percentage of float, suggesting a relatively positive outlook among investors.
May 06, 2024 | 8:15 pm
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Bank of New York Mellon's short interest has decreased, indicating a potential bullish sentiment shift among investors.
A decrease in short interest typically suggests that investors are becoming more bullish on a stock. For BK, the reduction in short interest, coupled with its lower short interest compared to peers, may reduce selling pressure and potentially lead to a positive short-term price movement.
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