"Based on the notice today, it looks like UBS have loaded up on borrowed stock, presumably so they can sell it sometime soon."
No no, I had that wrong. I didn't pay close enough attention to the umpteen pages of transaction data attached to the first UBS notice. The second UBS notice of 20 Dec 2016 indicates they returned a whole bunch of stock to the lenders. So it looks like they have been part of the loss of conviction on the short side. That must have been disappointing for them.
cheers
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