Increase in Short Positions Top 20 increases in short positions by dollar value (May 25)
| COMPANY | TICKER | 1-MONTH INCREASE IN SHORT POSITION ($MIL) |
| Enbridge Inc | ENB-T | $2,197.9 |
| Suncor Energy | SU-T | $806.3 |
| Canadian Natural Resources | CNQ-T | $610.5 |
| Bank of Montreal | BMO-T | $435.9 |
| Cenovus Energy | CVE=T | $433.1 |
| TC Energy Corp | TRP-T | $432.3 |
| Tourmaline Oil Corp | TOU-T | $369.9 |
| Teck Resources Ltd B | TECK.B-T | $189.8 |
| iShares MSCI Canada ETF | EWC-N | $161.7 |
| Fortis Inc | FTS-T | $150.4 |
| Royal Bank of Canada | RY-T | $147.0 |
| Ovintiv Inc | OVV-T | $136.1 |
| Imperial Oil Ltd | IMO-T | $123.0 |
| Alimentation Couch tard Inc | ATD-T | $120.8 |
| Nutrien Ltd | NTR-T | $113.8 |
| Agnico Eagle Mines | AEM-T | $100.9 |
| Toronto-Dominion Bank | TD-T | $99.0 |
| CGI Inc | GIB.A-T | $94.6 |
| Brookfield Asset Mgt | BAM.A-T | $88.5 |
| First Quantum Minerals | FM-T | $85.8 |
Source: S3 Partners
On the Top 20 increases in short positions by dollar value table, many companies from the energy sector rank high. The percentage increases in their short positions over the month (not shown on table) were also notable, especially for: Enbridge Inc. (42.4 per cent), Suncor Energy (59.5 per cent), Cenovus Energy (42.7 per cent) and Tourmaline Oil Corp. (96.9 per cent). A good portion of the increases reflect sharp gains in energy stock prices.