Not quite right.
When the shorter sells, ownership goes directly to buyer, who then gets dividends and new issues etc.
Meanwhile the shorter has a contract with the lender which usually says the shorter has to pay the lender any dividends, etc.
There is another issue also - the lender retains the option on how to vote at AGMs, but I don't understand how that can be done unless the shorter has not yet sold his shares. Does anybody know?
Predicting Margin call, page-31
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| Open | High | Low | Value | Volume |
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