What is this?
Short volume represents the aggregate volume by security for all short sale trades executed and reported to a TRF, the ADF, or the ORF as reported by FINRA. Although it may seem noisy and a rather poor factor on its own, it has been shown by SqueezeMetrics that higher short sale volume tends to lead to abnormal positive returns. The argument is that short sale volume mostly represents shares sold short by market markers to investors buying stocks. These investors are referred to as Dark Pools since the FINRA TRF trades are from off-exchange venues. More details can be found in their white paper.
The goal of this page is to show the cumulative net short dollar volume (Dark Pool Position $) by security. Is it calculated by taking the net short volume (short volume minus buy volume - a positive number means that the short volume was higher than the buy volume) times the closing price and taking the 20-day cumulative sum of this series. A positive position or position $ would be bullish, and a negative one bearish.
Key definitions:
Net Short Volume: Short volume minus buy volume.
Net Short Volume $: Net short volume multiplied by the last close.
Position: The sum of the net short volume over the last 20 trading days.
Position $: Position multiplied by the last close.
Data updated at 6pm EST.