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NYSE short interest fell 1.6 percent in late October

Traders work on the floor at the NYSE in New York

NEW YORK, Nov 11 (Reuters) - Short interest on the New York Stock Exchange fell 1.6 percent in late October, the exchange said on Monday.

As of Oct. 31, short interest fell to about 16.839 billion shares, compared with 17.112 billion shares as of Oct. 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.