NEW YORK, June 25 (Reuters) - Short interest on the
Nasdaq rose 1.6% in mid-June, the exchange said on Wednesday.
As of June 13, short interest rose to about 16.377 billion
shares, compared with 16.114 billion shares as of May 30.
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.