PDD Dark Pool Activity
PDD Holdings Inc.
Data as of Oct 23, 2026 · Source: FINRA daily short sale volume (off-exchange)
On Oct 23, 2026, FINRA reported 994K PDD shares in publicly disseminated off-exchange trades (dark pools and other off-exchange venues). 556K of those shares (55.9%) were marked short or short-exempt, above PDD's 30-day rolling average of 54.9% (z-score 0.11). Over the last 10 FINRA sessions (Oct 12, 2026 – Oct 23, 2026), PDD's off-exchange short volume ratio ranged from 42.8% to 70.9% and averaged 57.2%; the latest reading is below that 10-session average.
Off-Exchange Volume
994K
Short Volume
556K
Short Volume Ratio
55.9%
30-Day Average
54.9%
z-score 0.11
Daily readings — last 10 FINRA sessions
| Date | Off-exchange shares | Short shares | Short ratio |
|---|---|---|---|
| Oct 12, 2026 | 1.7M | 725K | 42.8% |
| Oct 13, 2026 | 3.3M | 2.3M | 67.9% |
| Oct 14, 2026 | 2.1M | 1.5M | 70.9% |
| Oct 15, 2026 | 1.8M | 972K | 52.7% |
| Oct 16, 2026 | 1.3M | 597K | 44.7% |
| Oct 19, 2026 | 1.3M | 880K | 66.9% |
| Oct 20, 2026 | 1.4M | 843K | 59.0% |
| Oct 21, 2026 | 2.5M | 1.6M | 63.4% |
| Oct 22, 2026 | 2.0M | 944K | 48.3% |
| Oct 23, 2026 Latest | 994K | 556K | 55.9% |
Source: FINRA daily short sale volume (off-exchange). Ratio = ShortVolume ÷ TotalVolume for the day.
PDD dark pool FAQ
- How much PDD off-exchange volume did FINRA report on Oct 23, 2026?
- FINRA's daily short sale volume file reported 994K PDD shares in publicly disseminated off-exchange trades on Oct 23, 2026; 556K of those shares (55.9%) were marked short or short-exempt.
- Is PDD's dark pool short volume ratio unusual right now?
- As of Oct 23, 2026, PDD's short volume ratio of 55.9% is above PDD's 30-day rolling average of 54.9% (z-score 0.11). Meridian's dark pool model does not flag this reading as an anomaly.
- What does the dark pool short volume ratio measure?
- FINRA publishes daily short sale volume for trades reported off-exchange to its trade reporting facilities, which include dark pools and other off-exchange venues. The ratio divides FINRA's ShortVolume figure, which counts both short and short-exempt sales, by the total off-exchange shares reported for that day. It is not short interest and not a directional signal: market-maker hedging and reporting mechanics can raise it, so it is context for other signals.