Table 1. Distribution of average...

Table 1.

Distribution of average relative short selling

Range	No. of stock–day obs.		(%)
Panel A: Stock–day observations
relss = 0%	1,412,399		53.79
0% < relss ≤ 10%	1,075,376		40.96
0% < relss ≤ 1%	493,377		18.79
1% < relss ≤ 2%	167,446		6.38
2% < relss ≤ 3%	108,737		4.14
3% < relss ≤ 4%	78,692		3.00
4% < relss ≤ 5%	60,655		2.31
5% < relss ≤ 6%	47,723		1.82
6% < relss ≤ 7%	38,495		1.47
7% < relss ≤ 8%	31,424		1.20
8% < relss ≤ 9%	26,384		1.00
9% < relss ≤ 10%	22,443		0.85
10% < relss ≤ 20%	104,281		3.97
20% < relss ≤ 30%	25,474		0.97
relss > 30%	8,169		0.31
Total	3,701,075		100.00
Panel B: Stock observations
Range	No. of stocks		(%)
relss = 0%	29		3.22
0% < relss ≤ 1%	428		47.56
1% < relss ≤ 2%	143		15.89
2% < relss ≤ 3%	89		9.89
3% < relss ≤ 4%	66		7.33
4% < relss ≤ 5%	41		4.56
relss > 5%	104		11.56
Total	900		100.00
Panel C: Portion of non-zero short selling
Range	Non-zero relss ratio	No. of stocks	(%)
relss = 0%	0.00	29	3.22
0% < relss ≤ 10%	4.99	84	9.33
10% < relss ≤ 20%	15.09	82	9.11
20% < relss ≤ 30%	25.79	91	10.11
30% < relss ≤ 40%	35.06	104	11.56
40% < relss ≤ 50%	44.19	107	11.89
50% < relss ≤ 60%	55.06	78	8.67
60% < relss ≤ 70%	65.48	84	9.33
70% < relss ≤ 80%	75.01	67	7.44
80% < relss ≤ 90%	84.59	82	9.11
relss > 90%	95.68	92	10.22
Total		900	100.00

Range	No. of stock–day obs.		(%)
Panel A: Stock–day observations
relss = 0%	1,412,399		53.79
0% < relss ≤ 10%	1,075,376		40.96
0% < relss ≤ 1%	493,377		18.79
1% < relss ≤ 2%	167,446		6.38
2% < relss ≤ 3%	108,737		4.14
3% < relss ≤ 4%	78,692		3.00
4% < relss ≤ 5%	60,655		2.31
5% < relss ≤ 6%	47,723		1.82
6% < relss ≤ 7%	38,495		1.47
7% < relss ≤ 8%	31,424		1.20
8% < relss ≤ 9%	26,384		1.00
9% < relss ≤ 10%	22,443		0.85
10% < relss ≤ 20%	104,281		3.97
20% < relss ≤ 30%	25,474		0.97
relss > 30%	8,169		0.31
Total	3,701,075		100.00
Panel B: Stock observations
Range	No. of stocks		(%)
relss = 0%	29		3.22
0% < relss ≤ 1%	428		47.56
1% < relss ≤ 2%	143		15.89
2% < relss ≤ 3%	89		9.89
3% < relss ≤ 4%	66		7.33
4% < relss ≤ 5%	41		4.56
relss > 5%	104		11.56
Total	900		100.00
Panel C: Portion of non-zero short selling
Range	Non-zero relss ratio	No. of stocks	(%)
relss = 0%	0.00	29	3.22
0% < relss ≤ 10%	4.99	84	9.33
10% < relss ≤ 20%	15.09	82	9.11
20% < relss ≤ 30%	25.79	91	10.11
30% < relss ≤ 40%	35.06	104	11.56
40% < relss ≤ 50%	44.19	107	11.89
50% < relss ≤ 60%	55.06	78	8.67
60% < relss ≤ 70%	65.48	84	9.33
70% < relss ≤ 80%	75.01	67	7.44
80% < relss ≤ 90%	84.59	82	9.11
relss > 90%	95.68	92	10.22
Total		900	100.00

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