RE:ENB Heavily Shorted StockA lot of the shorts are arbitrage players that shorted ENB and went long ENF/EEP/SEP when management announced the ENB all share bids to take them in when FERC made their original ruling.....which FERC then just ruled again in a watered down ruling which I am sure most have not followed or understood. This whole arb needs to be unwound (ENB shares bought back) if ENB keeps the MLPs intact.
A second class is shorters is basically US hedge funds that are shorting any interest rate sensitive stock as they think rates going even higher will drop the utility/pipeline group. They don't even bother to look at the company fundamentals (like Brian Acker on BNN that pumps USA all day).
A third class is just people wanting to short the market at a high and they pick the largest most liquid companies.
In all cases they don't short because they think the company fundamentals are bad, they haven't done the company specific research at all but are macro/arb players. That is the opportunity.