First Citizens BancShares FCNCA the short float percentage has increased by 30.23% since the last report. The company recently reported that it had done so 259 thousand shares sold short, or 2.24% of all common shares available for trading. Based on trading volume, traders would take an average of 2.91 days to cover their short positions.
Because short-term interest matters
Short interest is the number of shares that have been sold short but have not yet been covered or closed. Short selling occurs when a trader sells shares of a company that he does not own, with the hope that the price will fall. Traders profit from short selling if the stock price falls and lose if it rises.
Short interest is important to monitor because it can serve as an indicator of market sentiment towards a particular stock. An increase in short interest may signal that investors have become more bearish, while a decrease in short interest may signal that they have become more bullish.
See also: List of the most shorted stocks
First Citizens BancShares Short Interest Chart (3 Months)
As you can see from the chart above, the percentage of shares sold short for First Citizens BancShares has grown since its last report. This doesn’t mean the stock will drop in the near term, but traders should be aware that more shares are being shorted.
Comparing First Citizens BancShares’ short-term interest to its peers
Peer comparison is a popular technique among analysts and investors to evaluate a company’s performance. A company’s peer is another company that has similar characteristics to it, such as industry, size, age, and financial structure. You can find a company’s peer group by reading its 10-K, proxy filing, or by performing your own similarity analysis.
According to Benzinga Pro, First Citizens BancShares’ peer group average for short interest as a percentage of free float is 1.60%, meaning the company has Moreover little interest compared to most of its peers.
Did you know that it is possible to actually increase short interest bullish for a title? This post from Benzinga Money explains how to profit from it.
This article was generated by Benzinga’s automated content engine and was reviewed by an editor.