NEW YORK, Feb 11 (Reuters) - Short interest on the Nasdaq dipped 2% in late January, the exchange said on Tuesday.
As of Jan. 31, short interest slipped to about 9.077 billion shares, compared with 9.260 billion shares as of Jan. 15.
Investors who sell securities "short" borrow shares and then sell them, in expectations that the stock 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 Caroline Valetkevitch Editing by Leslie Adler)