NEW YORK, April 9 (Reuters) - Short interest on the New York Stock Exchange rose 0.3 percent in late March, the exchange said on Tuesday.

As of March 28, short interest rose to about 16.103 billion shares, compared with 16.051 billion shares as of March 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.