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Where the tokens are
| Settlement | Shares short | Average daily volume | Days to cover |
|---|---|---|---|
| Sep 15, 2026 | 5.2M | 3.53M | 1.47 |
| Aug 31, 2026 | 5.63M | 1.33M | 4.22 |
| Aug 14, 2026 | 4.99M | 1.46M | 3.43 |
| Jul 31, 2026 | 5.24M | 1.95M | 2.69 |
| Jul 15, 2026 | 5.71M | 1.59M | 3.59 |
| Jun 30, 2026 | 5.36M | 2.75M | 1.95 |
| Jun 15, 2026 | 5.25M | 2.05M | 2.56 |
| May 29, 2026 | 4.54M | 1.24M | 3.67 |
| May 15, 2026 | 4.48M | 1.27M | 3.52 |
| Apr 30, 2026 | 4.49M | 1.52M | 2.95 |
| Apr 15, 2026 | 5.79M | 1.47M | 3.94 |
| Mar 31, 2026 | 6.26M | 1.83M | 3.41 |
The share of each day’s reported trading that was a short sale. This is not short interest: most of it is market makers selling short to fill buy orders and buying back within the day, so a ratio of 30–50% is ordinary for a heavily traded stock and says little about how many shares are held short overnight.
Figures describe Novartis AG shares, not any token. As of Sep 15, 2026, from exchange short-interest reports and FINRA short-sale volume, via Massive. Short sellers borrow and sell the shares themselves; token holders are not lending theirs.