Elite Pharmaceuticals Inc (ELTP)

[John_Langston]

The numbers taken from the FINRA Daily Short Report and are meaningless as to an open short position at the end of the day---they simply reflect whether the MM has possession of the shares on the 1st leg of a trade.

Since MM's generally don't trade OTC issues for their own accounts and don't hold inventory, they fill short on the 1st leg so as not to take any risk on these tickers, and "cover" usually in milliseconds on the 2nd leg on trades that are transacted at the MM level of this "market".

Also MM's will sell for a block dumper during the session and cover on the net trade that is printed as an average (including commission which is why you see a markdown to price) or after hours as a T-trade.