Utilisation
Definition
The percentage of a stock's lendable float currently out on loan. High utilisation (>90%) indicates supply scarcity and rising borrow fees — a classic precursor to short-squeeze conditions.
Related Terms
Hard-to-Borrow
Stocks where shares for short-selling are scarce, driving up borrow fees and increasing recall risk. Often coincides with a building short squeeze setup. On the ASX, hard-to-borrow status is broker-defined and not publicly listed.
Borrow Fee
The annualised cost of borrowing shares to maintain a short position, expressed as a percentage of the position's market value. Highly-shorted or low-float ASX stocks can carry borrow fees of 20-50% or more.
Free Float
The portion of a company's shares available for public trading, excluding insider, strategic, and locked-up holdings. Low free float amplifies short-squeeze potential because shares are harder to source for borrowing.
See short selling in action
Explore real-time ASIC short position data for ASX stocks.