LINE is going up nicely but on low volume, so it would seem shorts are holding fast. They must be counting on the SEC coming to there rescue, but if that don't happen it will make the cover all the more painful. I don't see how the SEC could find any accounting problems without doing an investigation on nearly ever MLP, and that's not going to happen.
The short position is less than 5%. I think that is pretty good. Lets all forget about the shorts. We all know this is a good company with sound fundamentals. By Sept it will be a $36-$40 stock. Most of us bought it for distributions and that has gone up and hopefully will continue to do so for a long time.
And how do we know the shorts didn't cover earlier this month? Nasdaq shows the latest short interest to be 11M units as of June 28, which isn't really an excessive amount considering the float, not compared to some of the other high profile shorts.