August 26, 2019 / 8:04 PM / 24 days ago

Nasdaq short interest up 1.84% in mid August

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

(Reuters) - Short interest on the Nasdaq rose 1.84% in mid-August, the exchange said on Monday.

As of Aug. 15, short interest rose to about 8.256 billion shares, compared with 8.106 billion shares as of July 31.

Investors who sell securities “short” borrow shares and then sell them, in hopes the stock price will fall so they can buy the shares back at a lower price, return them to the lender and pocket the difference. Shorting can also be part of a hedging strategy.

Reporting by Sinéad Carew; Editing by Leslie Adler

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