July 25 (Reuters) - Short interest on the New York Stock

Exchange slipped in mid-July, the exchange said on Wednesday.

As of July 15, short interest decreased 0.4% to about 16.14

billion shares, compared with 16.21 billion shares as of late

June.

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.

(Caroline Valetkevitch; Editing by Alex Richardson)