The Nasdaq logo is displayed at the Nasdaq Market site in New York, U.S., May 2, 2019. REUTERS/Brendan McDermid

NEW YORK (Reuters) - Short interest on the Nasdaq rose 0.8% in early July, the exchange said on Wednesday.

As of July 15, short interest rose to about 9.104 billion shares, compared with 9.031 billion shares as of June 28.

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.

Shorting can also be part of a hedging strategy.