NEW YORK, Sep 23, 2011 (Dow Jones) -- Money managers increased turned net short on Comex copper futures and options in the week ended Tuesday, according to data released Friday by the Commodity Futures Trading Commission.

Traders in the category shed 470 long positions, or bets prices will rise, and added 6,502 short positions, or bets prices will fall.

This took their net position down to 6,672 short contracts, from 300 long contracts last week. Shifts in the net position are considered indications of changes in trader sentiment.

Large funds, including hedge funds, had been net short on copper in August, as concerns about a global slowdown crimped trader appetite for perceived risky assets such as copper.