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Nasdaq short interest down 0.4% in mid-September

NEW YORK, Sept 24 (Reuters) - Short interest on the Nasdaq slipped 0.4% in mid-September, the exchange said on Tuesday.

As of Sept. 13, short interest declined to about 9.201 billion shares, compared with 9.238 billion shares as of Aug. 30.

Investors who sell securities "short" borrow shares and then sell them, expecting the stock to fall so the shares can be bought back later at a lower price and then returned to the lender, allowing the investor to pocket the difference. Shorting can also be part of a hedging strategy. (Reporting by Caroline Valetkevitch Editing by Leslie Adler)