NEW YORK, July 11 (Reuters) - Short interest on the Nasdaq rose about 1.3% in the second half of June, the exchange said late Wednesday.
As of June 28, short interest rose to about 9.031 billion shares, compared with 8.915 billion shares as of June 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 Caroline Valetkevitch Editing by Nick Zieminski)