Nasdaq short interest down 0.6 pct in late April

NEW YORK Fri May 9, 2014 4:27pm EDT

NEW YORK May 9 (Reuters) - Short interest on the Nasdaq fell 0.6 percent in late April, the exchange said on Friday.

As of April 30, short interest fell to about 8.261 billion shares, compared with 8.31 billion shares as of April 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.

Shorting can also be part of a hedging strategy.