$2 Club, page-27

my concern is who shorted them initially..............shorting not always bad , as Convertible Hedge is a common strategy

"Convertible hedges are often used by hedge fund managers and investment professionals. The rationale for the convertible hedge strategy is as follows: if the stock trades flat or if little has changed, the investor receives interest from the convertible. If the stock falls, the short position gains while the bond will likely fall, but the investor still receives interest from the bond. If the stock rises, the bond gains, the short stock position loses, but the investor still receives the bond interest."

It would interesting to know who these hedge funds are.........that will tell us a lot about the kind of investor FXL is attracting.....