Nasdaq short interest rose 0.84% in late June

July 13, 2021 10:23 AM EDT

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

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(Reuters) - Short interest on the Nasdaq rose 0.84% in late June, the exchange said on Friday.

As of June. 30, short interest rose to about 10.99 billion shares, compared with 10.90 billion shares as of June 15.

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.

Shorting can also be part of a hedging strategy.

(Reporting By Sinéad Carew)

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