GSK’s GSK short percent of float has decreased by 7.69% since its last report. The company recently disclosed that it has 4.85 million shares sold short, which represents 0.24% of all regular shares available for trading. Based on its trading volume, it would take traders an average of 1.62 days to cover their short positions.
Why Short Interest Matters
Short interest refers to the number of shares sold short but not yet closed out. Short selling occurs when a trader sells shares of a company they do not own, hoping that the price will decrease. Traders profit from short selling when the stock price falls, but lose if it rises.
Tracking short interest is important as it can serve as an indicator of market sentiment towards a specific stock. An increase in short interest may suggest that investors have turned more bearish, while a decrease could indicate a more bullish sentiment.
See Also: List of the most shorted stocks
GSK Short Interest Graph (3 Months)
As shown in the chart above, the percentage of shares sold short for GSK has declined since its last report. However, this does not necessarily imply that the stock will rise in the near-term. Traders should be aware that there are fewer shares being shorted.
Comparing GSK’s Short Interest Against Its Peers
Peer comparison is a common technique used by analysts and investors to assess a company’s performance. A peer group consists of companies that share similar characteristics such as industry, size, age, and financial structure. You can identify a company’s peer group by reading its 10-K, proxy filing, or conducting a similarity analysis.
According to Benzinga Pro, GSK’s peer group has an average short interest as a percentage of float of 4.31%, indicating that GSK has lower short interest than most of its peers.
Did you know that an increase in short interest can actually be bullish for a stock? This post by Benzinga Money explains how you can profit from it.
This article was generated by Benzinga’s automated content engine and was reviewed by an editor.
