Short interest in EEP
Short interest as a percentage of float in Enbridge Energy Partners (EEP) is 3.2%, which is higher compared to the 2.7% in mid-September. According to data released on September 26, 2017, the total number of EEP shares shorted was ~8.9 million on September 15, 2017, 16.9% higher compared to ~7.6 million on August 31, 2017. The short interest in Enbridge Energy Partners is higher compared to an average of ~2.6% over the last five years.
The above graph shows short interest in Enbridge Energy Partners as a percentage of its float along with EEP’s stock price. The short interest as a percentage of float in EEP has been rising since July. Higher short interest in Enbridge Energy Partners stock likely indicates that more investors expect its price to fall further soon.
Short interest ratio
For Enbridge Energy Partners, the short interest is ~8.9 million shares, whereas the average daily trading volume is ~1.3 million shares. So, EEP’s short interest ratio is ~6.8x, which shows that it will take nearly seven days to cover all open short positions in EEP’s stock.
Based on the latest data, short interest in Enterprise Products Partners (EPD) was ~26.4 million shares on September 15, 2017, which was 3.5% lower compared to 27.3 million shares on August 31, 2017. On the other hand, short interest in ONEOK (OKE) rose nearly 20% to 15.2 million shares recently.
In the next part, we’ll see institutional investors’ activity in EEP.