Daily Times

Short interest on the Nasdaq fell 0.9pc in mid-July, the exchange said late Tuesday. As of July 15, short interest dipped to about 13.058b shares, compared with 13.173b shares as of June 30. Investors who sell securities “short” borrow shares 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.