El Paso (EP) Most Shorted Energy Company on NYSE

El Paso Corporation (NYSE:EP) is the most shorted energy company on the New York Stock Exchange, with 16,121,749 shares sold short on April 29.

Another 11,689,951 shares were sold short on April 15.

The company continues to trade about 4 million shares above the 3-month daily average, suggesting shorting activity continues.

Separately, hedge fund Jana Partners LLC announced it has increased its stake in El Paso to over 4 percent. Move industry watchers consider it a strategy to pressure the company to break itself up.

Shareholders have been pushing the company to make such a move and consider the pace of proposed changes too slow.

El Paso Corp. closed Monday at $18.44, gaining $0.22, or 1.21 percent.