November 27, 2019 / 2:41 PM / 18 days ago

Nasdaq short interest edges down 0.2% in mid-November

FILE PHOTO: The Nasdaq logo displayed at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid/File Photo

NEW YORK (Reuters) - Short interest on the Nasdaq slipped 0.2% in mid-November, the exchange said on Tuesday.

As of Nov. 15, short interest rose to about 9.127 billion shares, compared with 9.144 billion shares as of Oct. 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 Chuck Mikolajczak

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