Nasdaq short interest down 0.07% in mid-September
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FILE PHOTO: A view of the exterior of the Nasdaq market site in the Manhattan borough of New York City, U.S., October 24, 2016. REUTERS/Shannon Stapleton//File Photo
(Reuters) - Short interest on the Nasdaq fell 0.07% in the first two weeks of September, the exchange said on Friday.
As of Sept. 15, short interest fell to about 11.014 billion shares, from 11.023 billion shares as of Aug. 31.
Investors who sell securities "short" borrow shares and then sell them, on expectations the stock price will fall so they can buy the shares back at a lower price, return them to the lender and pocket the difference.
Shorting can also be part of a hedging strategy.
(Reporting by Sinéad Carew; Editing by Leslie Adler)
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