March 24, 2020 / 8:48 PM / 14 days ago

Nasdaq short interest up 3.3% in mid-March

NEW YORK, March 24 (Reuters) - Short interest on the Nasdaq rose 3.3% in mid-March, the exchange said on Tuesday.

As of March 13, short interest rose to about 9.356 billion shares, compared with 9.056 billion shares as of Feb. 28.

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; Editing by Sandra Maler)

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