NYSE Group says short interest up 1.5 pct in late February

NEW YORK, March 11 (Reuters) - Short interest on the New York Stock Exchange rose 1.5 percent in late February, the exchange said on Monday, suggesting an increase in bearish sentiment in the stock market.

As of Feb. 28, short interest rose to about 13.306 billion shares, compared with 13.104 billion shares as of Feb. 15.

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.