After a brief dip in shares borrowed, investors are still bearish on KV Pharmaceutical (KV.A)
Seeking Alpha Analyst Since 2010
Shares of KV.A borrowed on Short Side increased from 3 to 6 million shares from Feb 9 to Mar 1, but then went back to 3 million on March 24 as some investors covered their short position. Since March 24, investors borrowed a new 2 million shares.
Since reaching a 3-month high of $13 on March 8, KV's share price declined over the rest of March and is now trading at $5.
The current 5 million shares borrowed on Short Side indicates that the entire securities lending market is lending out 7.5 shares (since Short Side has roughly two-thirds of the market). Short interest as reported by NYSE at the end of Feb showed 7.46 million shares short, or 20% of float, so from Short Side, it looks like short interest is holding steady.
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