If they are market cap-weighted strategies (which I think they mostly are), I don't think rebalancing would result in huge changes at rebalancing times (usually quarterly). More driven by index flows in and out. I haven't done a deep dive on this point.
I should also mention, I have never traded $CLOV and have no position of any kind here.
Vanguard lends its shares to short sellers to enhance returns. They’re very much freely traded and should be included in the float calculation.
100% correct sans7007. I just included it as some nutjobs wanted to treat it differently, and it doesn't change the core point even including it.
Any speculation that this might have had something to do with expiring options last Friday?
Hard to say. It seems to have been triggered by a Factset error that got amplified with nobody doing work on it. S3 should be ashamed in my opinion.
Would Vanguard rebalance and sell shares if they were driven high enough by Reddit-fueled craziness?
If they are market cap-weighted strategies (which I think they mostly are), I don't think rebalancing would result in huge changes at rebalancing times (usually quarterly). More driven by index flows in and out. I haven't done a deep dive on this point.