Nasdaq short interest rises in late June
NEW YORK, July 10 (Reuters) - Short interest on the Nasdaq rose 3.04 percent in the second half of June, the exchange said on Friday, suggesting an increase in bearish sentiment in the stock market.
As of June 30, short interest rose to about 6.86 billion shares from 6.66 billion shares as of June 15.
The Nasdaq's short ratio, or the average number of days it would take to cover the outstanding short positions, rose to 2.91 days from a 2.85 daily volume in the previous 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 Rodrigo Campos, Editing by Chizu Nomiyama)
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