How can Institutional Shares be more than the shares outstanding?

There are a number of reasons why institutional shares can be above 100%. Unfortunately, there’s not always much we can do about it.

• The company might have performed a reverse split, which would reduce outstanding shares, and the reporting owners have not reported since then

• There is double counting at fund/parent level - there are frequently situations where funds report holdings and their parent companies also report those same holdings

• There are situations where two different institutions might disclose ownership of the same shares.

Here’s an article that touches on it a bit: https://www.investopedia.com/ask/answers/07/institutional_holdings.asp