Net borrowed value as a % of market cap has generally increased...

Net borrowed value as a % of market cap has generally increased since the start of July from 7.6% to about 7.8%, though it did creep as high as 8.1%. As a guide, 1% is ~4M shares or about a day and a bit of volume, and puts the change ranked just 68th (WEB is the biggest increase, SYR has the biggest decrease).

Gross short volume (from the short sales report) over the period has added up to just under 35M shares, so it would appear that roughly 10-12% of the short sales have been additions to short positions, while the other 88-90% have matching covers (those shorters are buying almost as much as they are selling). Total volume in the same period is just over 175M shares traded, so that leaves us with 35/175 or 20% of total volume tagged as short, but interestingly, only 2.3% of total volume as net short. I'm not especially surprised about the small amount of new net short, mainly because all the lithium stocks have stabilised or slightly decreased their net borrowed position, but also because they are prohibitively expensive to borrow. You'd need a particularly bearish view to establish new short (imho).