Peering Into Marathon Petroleum's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Marathon Petroleum's (NYSE:MPC) short interest has increased by 3.29%, with 7.80 million shares sold short, representing 2.2% of its float. It would take 2.81 days on average to cover these short positions. This rise in short interest could indicate a bearish market sentiment towards MPC, although it has less short interest compared to its peers' average of 8.47%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.
May 09, 2024 | 2:45 pm
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Marathon Petroleum's short interest has increased, indicating a potentially bearish sentiment but still below peer average.
The increase in short interest for Marathon Petroleum suggests that more traders are betting against the stock, which could lead to increased selling pressure and potentially lower stock prices in the short term. However, the fact that MPC's short interest is below its peer group average might mitigate some negative impact, indicating that while bearish sentiment has increased, it is not as pronounced when compared to similar companies.
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