Old National Bancorp (NASDAQ: ONBPP) experienced a significant reduction in short interest during January. As of January 15, the number of shares sold short stood at 2,083, representing a 34.4% decrease from the 3,173 shares reported at the end of December. This change reflects a notable shift in investor sentiment over the first half of the month.
The average daily trading volume for Old National Bancorp shares is approximately 5,127 shares, indicating that the decrease in short interest is substantial relative to typical market activity.
**Why this matters**
Short interest is often used as an indicator of market sentiment toward a stock. A decline in short interest may suggest that investors are less bearish on Old National Bancorp, potentially signaling increased confidence in the company’s prospects. Monitoring changes in short interest can provide insights into investor behavior and market trends.
Source: NewsData