The increase in short position that you speak to is related to the equity raising. Some institutions that took part in the placement would have long/short capabilities. So they are selling the stock they got in the placement by borrowing it and shorting it before the raising settles. When the stock settles it all washes out and the short interest will drop. They are effectively selling it not shorting it but its reported as a short.
shorters playing with fire, page-8
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