Nasdaq short interest down 1.5 pct in late March

NEW YORK, April 9 Tue Apr 9, 2013 3:59pm EDT

NEW YORK, April 9 (Reuters) - Short interest on the Nasdaq dipped 1.5 percent in late March, the exchange said on Tuesday, suggesting a decrease in bearish sentiment in the stock market.

As of March 28, short interest was 7.533 billion shares, down from 7.647 billion shares as of March 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.