Nasdaq short interest up about 3% in late September
Nasdaq short interest up about 3% in late September Oct 9 (Reuters) - Short interest on the Nasdaq rose 2.99% in late September, the exchange said on Friday.
As of September 30, short interest rose to about 18.657 billion shares, from 18.117 billion shares as of September 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.
(Reporting by Sinéad Carew; Editing by Shilpi Majumdar)
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