Nasdaq short interest up 4.4 percent in mid_March

NEW YORK, March 24 (Reuters) - Short interest on the Nasdaq rose 4.4 percent percent in mid-March, the exchange said on Tuesday, suggesting an increase in bearish sentiment in the stock market.

As of March 13, short interest rose to about 7.348 billion shares, compared with 7.037 billion shares as of Feb. 27.

The Nasdaq's short ratio, or the average number of days it would take to cover the outstanding short positions, decreased to 3.07 days from 3.11 days in late February.

Investors who sell securities "short" profit from betting stocks will fall. Short-sellers borrow shares and then sell them, waiting for the stock to fall so they can buy the shares back at the lower price, return them to the lender and pocket the difference. (Reporting by Phil Wahba; Editing by Andre Grenon)