Nasdaq short interest up 0.83% in late September

NEW YORK, Oct 11 (Reuters) - Short interest on the Nasdaq rose 0.83% in late September, the exchange said on Monday.

As of Sept. 30, short interest rose to about 11.105 billion shares, compared with 11.014 billion shares as of Sept. 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.