Nasdaq short interest edges higher in mid-December

NEW YORK Dec 24 (Reuters) - Short interest on the Nasdaq rose 0.1 percent in mid-December, the exchange said on Thursday, suggesting a slight increase in bearish sentiment in the stock market.

As of Dec. 15, short interest rose to about 6.46 billion shares, compared with 6.45 billion shares as of Nov. 30.

The Nasdaq's short ratio, or the average number of days it would take to cover the outstanding short positions, increased to 3.42 days from 3.15 days in the previous two-week period.

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 Edward Krudy; Editing by Dan Grebler)