With approx 50% of daily trade short and the number of open shorts remaining reletively stable 16% odd, the daily shorts must be resolving throughout the day. Does it make sense to say the remaining 50% of trade is buying or moving stock across to cover the short. Lets call the short BR hedge fund and the sellers of the stock BR investors, the sp is run down over a period with this negative flow short activity and BR hedge now holds the stock that was sold across the market at % less than BR investors paid.
The shares that were purchased with investors money still reside with the same company/insto but they have been sold out of investor accounts and bought into company accounts with a of slight of hand.
GXY Price at posting:
$1.87 Sentiment: None Disclosure: Held