Francis wrote: ↑Thu Aug 25, 2022 10:43 pm
The Ortex data doesn’t show that any short positions have been bought back (they are unchanged at 20.26m) only that 49.75m shares formerly out on loan have been successfully recalled by their lender(s).
The reported short position hasn’t changed. On the Ortex thread, Ortex have acknowledged there was an error with their reporting of the short position. We do however have data straight from FCA (updated daily) which shows 0.5% reported short.
https://www.fca.org.uk/publication/data ... pdate.xlsx
JPMAM do not need to report further unless they go to 0.6% or fall below reporting threshold (threshold is 0.5%).
The issue with Ortex is accuracy and also we did not know deployment rate of shares on loan i.e. how many of the borrowed shares had been sold, and required buying back to return to owner.
I am struggling to see how they were sitting on almost 50m undeployed shares to return in one day, with volume and SP not correlating to such a move; I appreciate this points to the shares being borrowed, not deployed and therefore able to be returned to the owner, but I am not convinced.
More work to be done, data review to be completed and will be interesting to see more data over the coming days.