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Short bets flee Covanta, dial up on Dynegy

Covanta Holding Corp. saw the biggest drop in short interest relative to shares outstanding among SNL-covered power and gas companies between Nov. 15 and Nov. 30.

The percentage of the company's shares held short relative to shares outstanding fell 273 basis points to 8.30% as of Nov. 30.

Dynegy Inc. saw the greatest rise in short interest relative to shares outstanding among SNL-covered power and gas companies between Nov. 15 and Nov. 30. The company saw short interest increase 88 basis points to 16.05% of shares outstanding at the end of the period.

Spark Energy Inc. topped the list of most shorted power and gas companies during the period. The company saw short interest decline 186 basis points to 25.44% of shares outstanding.

CONSOL Energy Inc. was the most shorted coal company in the second half of November. The company saw short interest decline 6 basis points to 15% of shares outstanding.

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