Many of the hedged shares will be from the same index funds required to invest in AVZ. The one & same company: no borrow cost.
'Hedging their bets'
Regardless, since the majority of shorts were opened at 85c+, and at only a 7.2% pa borrow fee (for retail), most are already in front (at current SP of 78c) and will make more gains IMO if share price tanks on commencement of trade.
AVZ -ARE THE SHORTERS WORRIED, page-41
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