NYSE short interest fell 1.4 percent in mid-October

October 25, 2016 4:42 PM EDT

Traders work on the floor of the New York Stock Exchange (NYSE) in New York City, U.S., October 25, 2016. REUTERS/Brendan McDermid

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NEW YORK, Reuters - Short interest on the New York Stock Exchange fell 1.4 percent in mid-October, the exchange said on Tuesday.

As of Oct. 14, short interest fell to about 16.371 billion shares, compared with 16.608 billion shares as of Sept. 30.

Investors who sell securities short borrow shares and then sell them, expecting the stock to fall so they can buy the shares back at the lower

price, return them to the lender and pocket the difference.

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