Afternoon Sketch,

Good post. I wonder if it means that the 626,746 naked short shares were finally delivered or that they were covered, or a combination of the two. Being ECUXF, these were shares shorted from the US side. Volume has never been that heavy in ECUXF from what I've seen, so I imagine the paper trail would be easy to track. That number seems a little high to me. Some big brokers like Schwab don't allow shorting of pennies which would narrow the culprits down even more.

Back around the end of November when that number was live according to the SEC, ECU was trading at roughly a dollar. Went up a little to less than 1.10 and then sagged to between .80 and .90 until the last week in January and then the drift down to where we are now.

So, If any of those 626,746 naked short shares were bought back, it apparently didn't do a whole lot for the price other than perhaps hold it up from really tanking.

Of course, there's probably another answer.