CORRECTED-Nasdaq short interest down 0.56% in late July
In this article:
(In AUG 11 story corrects to read fell 0.56% (not 90.8%), JJuly 15 total 9.219 billion shares (not 99.219 billion))
By Chuck Mikolajczak
NEW YORK, Aug 11 (Reuters) - Short interest on the Nasdaq fell 0.56% in the second half of July, the exchange said on Tuesday.
As of July 31, short interest fell to about 9.168 billion shares, compared with 9.219 billion shares as of July 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. (U.S. markets team) (Reporting by Chuck Mikolajczak)
