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Why does total % shares exceed 100%?

• % of Shares Held by All Insider and 5% Owners: 5% % of Shares Held by Institutional & Mutual Fund Owners: 97% % of Float Held by Institutional & Mutual Fund Owners: 101% Here my questions: 1.) Does the first mean owner owns 5% of the 5% so 0.25% in shares? 2.) 5% + 97% = 102%. Why does it exceed 100% ? 3.) What is % float? and why is it 101% exceeding 100% again? I thought % shares pertains to the percentage on the total outstanding common shares... so if total outstanding common shares is 1M. so 5% all insiders and owners means 0.05 x 1M = 50,000 shares all insiders and owner has 5% of 50,000 which is 2500 shares. Is that right? And shares held by institutional & mutual fund owners is 97% of 1M = 970,000 shares. so now 50,000 + 970,000 exceeds the 1M total outstanding shares. Please enlighten me...

• Answer:

  insiders = management of company, plus founders [etc.] 5% owners means owns 5% or more of the shares, whether insider or not if there is one large institution [or mutual fund] owning 8% of the shares, they'd be counted in both figures and thus the total could well exceed 100% similarly, the net position of short sellers is usually not included in the % of shares held by figures -- if 4% of shares are sold short, then the total held long is 104%.