Short interest in Encana’s stock
As of July 15, 2017, Encana’s (ECA) short interest stood at ~15.3 million, which was ~13% lower than a month prior.
- The short interest ratio in Encana’s stock is ~1.4. Its 52-week short interest ratio range is 0.7x–2.0x.
- The current short interest in Encana’s stock as a percentage of shares outstanding is ~2.1%. This level of short interest is much lower than that of other upstream companies from the SPDR S&P Oil and Gas Exploration & Production ETF (XOP).
- Since the start of 2017, short interest in Encana’s stock as a percentage of shares outstanding has risen from ~1.9% to ~2.1%, despite a ~31% fall in its stock price.
- Peers ConocoPhillips (COP), Pioneer Natural Resources (PXD), and Southwestern Energy (SWN) have short interest as a percentage of shares outstanding of ~2.7%, ~2.8%, and ~10%, respectively. The Direxion Daily Energy Bull 3X ETF (ERX) is a leveraged ETF that invests in domestic companies from the energy sector.
Form 13F is a SEC (Securities and Exchange Commission) mandate that needs to be submitted by all institutional investors who manage more than $100 million in assets. In 1Q17, 152 funds were “buyers” of Encana’s stock, and 163 funds were “sellers” of Encana. Therefore, in 1Q17, selling funds outnumbered buying funds by 11. As of March 31, 2017, 307 13F filers held Encana in their portfolio, of which only nine filers have Encana in their top ten holdings.