strong bid at 34c, page-40

There are many signs for shorts covering but a typical one is an uptick in price just before the close, as shorts try to close out their position before trading ends. Not many shorts like to hold too long as the risks of overnight news (like acquisitions) can wipe them out pretty quckly.

It's hard to tell from the shortman site as the % looks unrealistically high, but who knows, there are many institutions who short for a living.

SXY is one company I wouldn't remotely consider taking a short position in as the winds have their sails and it looks like clear sailing ahead to me.