Nasdaq short interest down 2.1% in late May

NEW YORK, June 10 (Reuters) - Short interest on the Nasdaq fell 2.1% in late May, the exchange said on Tuesday.

As of May 30, short interest fell to about 16.114 billion shares, compared with 16.467 billion shares as of May 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.

Shorting can also be part of a hedging strategy.