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NYSE short interest rose 1.6 percent in mid-May
May 24, 2016 / 8:31 PM / a year ago

NYSE short interest rose 1.6 percent in mid-May

A New York Stock Exchange logo is displayed on the floor of the New York Stock Exchange October 19, 2015. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Short interest on the New York Stock Exchange rose 1.6 percent in mid-May, the exchange said on Tuesday.

As of May 13, short interest rose to about 16.705 billion shares, compared with 16.436 billion shares as of April 29.

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.

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