Bloomberg reported on July 19th that James Hardie (JHX) the Australian mid-cap industrial supplier, had slumped to a 7-year low to A$4.68 after announcing that it may have to pay A$240.3M (US$227) tax bill. The price has now rebounded and shorts were covered from July 19th - 26th, as you can see from this graph below. However, since July 28th short positions have now been opened up and the percentage of JHX's Market Cap on loan (%MCOL) has risen from 11% to 15%, presumably in anticipation of a further fall in share price. Interestingly there was a relatively low amount of volume on July 28th - 1.8M shares traded compared to 6.1M on July 23rd (when the %MCOL) rose from 13.88% to 14.27% in one day). Utilisation is at 50%, with 26.65 Days to Cover.