March 10, 2020 / 8:48 PM / a month ago

Nasdaq short interest up 0.3% in late February

NEW YORK (Reuters) - Short interest on the Nasdaq rose 0.3% in late February, the exchange said on Tuesday.

As of Feb. 28, short interest rose to about 9.06 billion shares, compared with 9.02 billion shares as of Feb. 14.

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 April Joyner; Editing by Sandra Maler

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