NYSE short interest rose 1.0 percent in mid-May

NEW YORK, (Reuters) – Short interest on the New York Stock Exchange rose 1.0 percent in mid-May, the exchange said on Wednesday.

As of May 15, short interest rose to about 16.430 billion shares, compared with 16.268 billion shares as of April 30.

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.