NYSE short interest fell 5.7 percent in late January

NEW YORK, Feb 9 (Reuters) – Short interest on the New York Stock Exchange fell 5.7 percent in late January, the exchange said on Tuesday.

As of Jan. 29, short interest fell to about 12.931 billion shares, compared with 13.716 billion shares as of Jan. 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.