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Short Interest in Plains All American Pipeline Fell 15%

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Mar. 23 2018, Updated 1:07 p.m. ET

Short interest

The short interest in Plains All American Pipeline (PAA) as a percentage of its float is 2.2%. The short interest is lower compared to 2.6% in mid-February 2018. According to data released on March 9, 2018, the total number of Plains All American shares shorted was ~9.3 million on February 28, 2018—15.1% lower compared to ~11.0 million on February 15, 2018. The short interest in Plains All American is higher than its average of ~1.5% in the last five years.

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The above graph shows the changes in the short interest in Plains All American Pipeline stock in the past year along with its stock price. The recent fall in the short interest in Plains All American Pipeline might show that fewer investors think the price will fall soon—compared to the investors that expected a fall in mid-February 2018.

Short interest ratio

The short interest in Plains All American Pipeline stock is ~9.3 million shares, while its average 30-day daily trading volume is ~3.3 million shares. So, Plains All American Pipeline’s short interest ratio—the short interest divided by its average trading volume—is ~3x. It will take nearly three days to cover all of the open short positions in Plains All American Pipeline stock.

The short interest in Enterprise Products Partners (EPD) was ~18.5 million shares on February 28, 2018—6% lower compared to 19.6 million shares on February 15, 2018. The short interest in ONEOK (OKE) rose nearly 11.2% to ~10.6 million shares on February 28, 2018.

Next, we’ll look at the recent institutional investor activity in Plains All American Pipeline.

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