Nasdaq short interest down 1.7% at end of January

NEW YORK, Feb 11 (Reuters) - Short interest on the Nasdaq eased 1.7% at the end of January, the exchange said on Tuesday.

As of January 31, short interest dipped to about 14.581 billion shares, compared with 14.827 billion shares as of January 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 a lower price, return them to the lender and pocket the difference.

Shorting can also be part of a hedging strategy.