my understanding is that State Street are probably acting as...

my understanding is that
State Street are probably acting as custodians of TLX stock

since my records indicate State Street only owned a small amount of TLX stock in latest Substantial shareholder notices ... and i don't see how they could have accumulated or bought 17m shares in a small-time frame, I'm thinking its holding or custodian of the stock from someone else

it may even have something to do with the convertible note issue

and those lending sales are probably from other brokers borrowing the stock from a lender, in this case ... State Street

for instance, i can borrow TLX to short sell, and the stock comes from MQG
i suspect MQG would have an agreement whereby they would borrow the stock that i wish to short sell from State Street

i guess the owner of the stock is happy to not sell the stock and its generally a passive investment, but they are happy to lend it out to people like me, for a small fee or UBS prop traders, for a small fee for overnight or short-term trading


as far as short selling is concerned,
it doesn't worry me.
you can't short sell or hold something down (for long) that doesn't really deserve to go down.
I've followed a few stocks over the years that complain they are targeted by short sellers, but really, they were short sold because they weren't worth the price they traded