According to a statement from the Nasdaq released late on Tuesday, short interest on the exchange increased by approximately 2.2% in mid-March.

As of March 14, the short interest reached around 15.66 billion shares, up from 15.33 billion shares during the previous settlement period on Feb. 28.

In short selling, investors borrow shares and then sell them, anticipating a decline in the stock price so that they can repurchase the shares at a lower cost, return them to the lender, and profit from the price difference.

Short selling can also serve as a component of a hedging strategy.

The information was reported by Sinéad Carew.