BP’s short interest
Short interest in BP (BP), which has been rising since the beginning of 2016, has witnessed a 23% fall since July 14, 2016. This indicates that the bearish sentiment for the stock is weakening.
However, during the same period, contrary to market sentiments, BP’s stock price has fallen by 9%.
In the same period, BP’s peers Total (TOT), Eni (E), and Petrobras (PBR) have witnessed short interest falls of 35%, 21%, and 8%, respectively. TOT and E have witnessed falls of 3% and 9%, respectively, in their stock prices since July 14, 2016, whereas PBR’s stock has risen by 6%.
The Vanguard High Dividend Yield ETF (VYM) has ~11% exposure to energy sector stocks.