Peering Into Bank of America's Recent Short Interest
Portfolio Pulse from Benzinga Insights
Bank of America's (NYSE:BAC) short interest has decreased by 9.52%, now standing at 64.80 million shares or 0.95% of its float. This decline in short interest, which now takes traders approximately 1.76 days to cover, could indicate a more bullish sentiment towards BAC compared to its peers, where the average short interest as a percentage of float is 1.72%.
May 09, 2024 | 3:00 pm
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Bank of America's short interest has decreased, indicating a potential increase in bullish sentiment among investors.
A decrease in short interest typically suggests that investors are less bearish on the stock, potentially leading to an increase in its price in the short term. Given that BAC's short interest is below its peer group average, this could further indicate stronger confidence in BAC compared to its competitors.
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