How Short Interest in Devon Energy Stock Is Evolving in 2017
Short interest in Devon Energy stock
On April 28, 2017, Devon Energy’s (DVN) total shares shorted (or short interest) stood at ~7.9 million, and its average daily volume was ~4.5 million. This means the short interest ratio for DVN stock was ~1.7x on that day.
When looked from the perspective of shares outstanding, current short interest in DVN as a percentage of shares outstanding is ~1.5%.
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As seen in the chart above, short interest in Devon Energy stock as a percentage of shares outstanding has decreased from ~1.8% to ~1.5% in 2017, despite an ~19% fall in DVN’s stock price during the same period. To learn more about DVN stock’s recent price performance, please refer to Part 1 of this series.
Other upstream players
The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.