I think that is just the way it works with the short sellers. They borrow the shares to sell if they don't sell them they are free to hand them back. If they do sell them then they have to buy them back to return them to the borrower. My feeling having looked at the Citi group reporting is that they have been shorting as well but only in the last couple of months as best as I can see. They increased there pool of shares that they could sell down to short BOE by 4.2m the date they did it was the 4th April.
If there is a short squeeze I think Citi will be feeling that pain as well. I will have a look at PDN and see who is shorting that stock keep in mind Citi could be doing it on behalf of others.
BOE Price at posting:
$2.33 Sentiment: Buy Disclosure: Held
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