Short interest edges higher on NYSE, Nasdaq

NEW YORK, Nov 26 (BestGrowthStock) – Short interest on the New York
Stock Exchange and the Nasdaq edged higher in the first half of
November as U.S stocks came off their highs, according to data
released by the exchanges.

Short interest on the Nasdaq rose about 0.1 percent in mid
November from late October. Through Nov. 15, short interest
rose to 7.04 billion shares from 7.03 billion shares as of Oct.
29.

That was 3.47 days’ average daily volume, compared with an
average of 3.48 days for the previous reporting period,
according to Nasdaq.

The data for both the NYSE and the Nasdaq was released
after the close on Wednesday.

Investors who sell securities short seek to profit from a
decline in stock prices. They borrow shares and then sell them
in the hope of buying them back later at a cheaper price,
pocketing the difference.

The S&P 500 stock index has fallen 2.2 percent since
hitting a two-year high on Nov. 5. Prior to that the index had
gained almost 17 percent over the previous two months.

Short interest on the NYSE rose about 0.9 percent in mid
November from late October. Through Nov. 15, short interest
rose to 13.82 billion shares from 13.69 billion shares as of
Oct. 29.

The short interest on NYSE as of the end of middle of the
month was equivalent to 3.62 percent of the total shares
outstanding.

Short interest edges higher on NYSE, Nasdaq