NEW YORK (Reuters) - Short interest on the Nasdaq dipped 0.8% in late November, the exchange said on Tuesday.

As of Nov. 29, short interest declined to about 13.910 billion shares, compared with 14.018 billion shares as of Nov. 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.