NEW YORK, Feb 26 (Reuters) - Short interest on the Nasdaq eased 0.6% in mid-February, the exchange said on Wednesday.
As of Feb. 14, short interest dipped to about 9.025 billion shares, compared with 9.077 billion shares as of Jan. 31.
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. (Reporting by Caroline Valetkevitch)