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I'm researching short selling volume data reports from NYSE, NASDAQ and BATS (Sources: FINRA + BATS website). And my question is: Why are those numbers so high?

Is it really just a speculative short selling or a big piece is made from another transactions - like insider selling due Securities Act of 1933 prohibiting direct selling of securities obtained from issuer (so they are shown like shorts to regulators).

Compared to short interest (published 2 times per month) those numbers are insane.

I attach a chart with short volume as a percentage of total volume reported to FINRA and by BATS (this volume is significantly lower than total volume published by Bloomberg - what might be another reason) But distribution of short selling should be approximately same across trading venues right? (excl. darkpools of course)

Alcoa short volume

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For those who also need an answer as I did. The explanation is here:

https://investorshub.advfn.com/boards/read_msg.aspx?message_id=57101068

TLDR: Those data are +- worthless because not only actual short sales (speculations) are included.

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