RE:Quite the drop in short countsEnd of March shows another substantial reduction in the short position.
As of 31 Mar there were 243,029 shares sold short; a reduction of 154,456 shares from two weeks earlier.
The earlier short trading report showed very light short trading of only 14.431 % of all trades of BNE, with a total of 107,664 shorted during the period, which implies that the total trade (I assume across all markets) was 746,060 shares. Combined with the short position report this also implies that 262,120 shares were bought to cover, which would be 35% of the total trade. And it would be 63%(!) of the 411,449 shares traded on the stocks listing exchange, the TMX.
At COB today the TMX level 2 showed bids for 29,500 shares from CA$6.65 to CA$6.78
Asks were 22,500 shares from CA$6.86 to CA$6.99.
This continues the shorts getting away with an orderly withdrawal from a precarious exposure, in light but steady trading. Also that there is a lot of trading happening on other boards; i.e. the US-based OTC.