Looking at the top 20 (as at Sept 30) the largest holding was 4.32%, so if 9.30% have been shorted, as was the case in the recent peak, then multiple parties are lending.
How many of the top 20 are in effect nominee companies with no vested interest in the direction of movement is not clear. Nominees would be a dead cert for lending.
Don't rule out the possibility of a lender also actively acquiring (at lower prices)
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