Encana Corporation June 15th Short Interest Update

Encana Corporation (NYSE:ECA) stated loss of 743,856 shares or 3.1% in the short interest. The short interest registered from 24,057,915 on May 31,2016 to 23,314,059 on June 15,2016. In terms of floated shares, the shorted positions stood at 2.7%. The stock has been averaging 13,570,318 shares daily in trading and would need 2 days to cover the shorts. The information was released by Financial Industry Regulatory Authority, Inc (FINRA) on June 24th after market close.

Encana Corporation (NYSE:ECA): The stock opened at $7.60 on Friday but the bulls could not build on the opening and the stock topped out at $7.96 for the day. The stock traded down to $7.59 during the day, due to lack of any buying support eventually closed down at $7.81 with a loss of -6.13% for the day. The stock had closed at $8.32 on the previous day. The total traded volume was 14,157,411 shares.

The company shares have dropped -29.06% from its 1 Year high price. On Jun 30, 2015, the shares registered one year high at $11.19 and the one year low was seen on Feb 23, 2016. The 50-Day Moving Average price is $7.68 and the 200 Day Moving Average price is recorded at $5.87.

Encana Corporation (NYSE:ECA) has tumbled 4.52% during the past week, however, the bigger picture is still very bullish; the stocks have advanced and posted positive gains of 2.23% in the last four weeks. The stocks have underperformed the S&P 500 by 2.94% during the past week but Encana Corporation (NYSE:ECA) it has outperformed the index in 4 weeks by 5.32%.

Encana Corporation is engaged in the business of the exploration, development, production and marketing of natural gas, oil and natural gas liquids (NGLs). The Company operates through three business segments: Canadian Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within Canada; USA Operations, which includes the exploration for, development of, and production of natural gas oil and NGLs and other related activities within the United States and Market Optimization, which includes third-party purchases and sales of products that provide operational flexibility for transportation commitments, product type, delivery points and customer diversification. Market Optimization sells all of the Companys upstream production to third-party customers. Its growth assets include Permian; Tuscaloosa Marine Shale; Eagle Ford; Montney; Duvernay; DJ Basin, and San Juan.

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