Nasdaq short interest up 1.1 pct in late May

Reuters

June 10 (Reuters) - Short interest on the Nasdaq rose 1.1 percent in late May, the exchange said on Tuesday.

As of May 30, short interest rose to about 8.535 billion shares, compared with 8.441 billion shares as of May 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.

(Editing by Meredith Mazzilli)

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