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Umpqua Holdings Corporation Message Board

  • qniform qniform Jul 18, 2008 2:04 AM Flag

    Naked shorts

    Looking at the Yahoo 'Key Statistics' screen, it occurs to me that 67% of UMPQ is held by insiders and institutions; 29% is in short interest; that leaves just 4% left for everyone else. At present volume, covering short positions would take over three weeks...

    Of course all this assumes the Yahoo stats are right. I account for 0.00006% of the shares, but I'm not about to sell. ;)

    SortNewest  |  Oldest  |  Most Replied Expand all replies
    • "Dividends are paid by the transfer agent for the company, which will have an accurate accounting of the actual shares issued, therefore there should not be a dividend overpayment. If 67% of the stock is owned by insiders and 29% is short, that doesn't mean overallocation.If the insiders hold the securities in a margin account, the shares are still available for shorting by other investors.So you can't just add those two numbers up, they're completely different indicators.However, if a stock becomes overallocated, the broker may then force clients to buy to cover their short positions."

      I guess the transfer agent it the party most responsible for over allocation then?

    • Another question occurs to me - if more than 100% of a company's shares are accounted for (as has happened with naked short selling), where does the dividend payment on the excess shorted shares end up?

      • 1 Reply to qniform
      • If you sell a share short, you do not hold any position or rights in a stock; other than your responibility to buy back shares regardless of price to cover/close your position. If so, there are no dividend rights on short sales.

        As you listed your holdings in this stock, given 60.08 million shares outstanding, assuming you did the math right; you should be pleased with the recent up-tick. I hold roughly 4.166 times your share amount, so clearly think this stock should be trading back in the $15 to $17 range which is far less than the upper trading range.

        PUP.

 
UMPQ
16.92-0.26(-1.51%)Jul 31 4:00 PMEDT

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