NEW YORK (Reuters) - Short interest on the Nasdaq rose 0.6% in late March, the exchange said on Wednesday.

As of March 31, short interest climbed to about 15.754 billion shares, compared with 15.664 billion shares as of March 14.

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.