Plains All American Pipeline L.P. (PAA) : Traders are getting increasingly bearish on Plains All American Pipeline L.P. (PAA), as can be seen in the addition of short positions from 6,195,001 on Jul 29, 2016, to 6,990,194 on August 15, 2016. The net change in shorts is 795,193 shares, an increase of 12.8%. 3 days remain before the expiry. The 1.8% of outstanding short positions on the stock compared to its float, shows that traders expect the stock to fall from the current levels. The daily volume of the stock is 2,274,949. The short interest information was released on Wednesday Aug 24th after the market close.
Plains All American Pipeline L.P. (NYSE:PAA): The stock opened at $28.95 on Wednesday but the bulls could not build on the opening and the stock topped out at $29.13 for the day. The stock traded down to $28.45 during the day, due to lack of any buying support eventually closed down at $28.60 with a loss of -1.62% for the day. The stock had closed at $29.07 on the previous day. The total traded volume was 1,748,231 shares.
In a related news, According to the information disclosed by the Securities and Exchange Commission in a Form 4 filing, the CEO of Plains All American Pipeline Lp, Armstrong Greg L, had purchased 158,066 shares in a transaction dated on February 10, 2016. The transaction was executed at $16.06 per share with total amount equaling $2,538,540.
Plains All American Pipeline, L.P. owns and operates midstream energy infrastructure and provides logistics services for crude oil, natural gas liquids (NGL), natural gas and refined products. The Companys operational segments include Transportation, Facilities, and Supply and Logistics. The transportation segment operations consist of fee-based activities associated with transporting crude oil and NGL on pipelines, gathering systems, trucks and barges. The facilities segment operations consist of fee-based activities associated with providing storage, terminalling and throughput services for crude oil, refined products, NGL and natural gas. The supply and logistics segment operations consist of merchant-related activities.