Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Sees Large Growth in Short Interest

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 1,333,328 shares, an increase of 158.3% from the February 26th total of 516,209 shares. Based on an average daily trading volume, of 2,447,002 shares, the days-to-cover ratio is currently 0.5 days. Approximately 14.0% of the shares of the stock are short sold. Approximately 14.0% of the shares of the stock are short sold. Based on an average daily trading volume, of 2,447,002 shares, the days-to-cover ratio is currently 0.5 days.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Trading Up 2.1%

Direxion Daily Homebuilders & Supplies Bull 3x Shares stock traded up $0.82 during midday trading on Wednesday, reaching $39.78. The company’s stock had a trading volume of 1,610,719 shares, compared to its average volume of 1,646,304. The stock has a market cap of $377.91 million, a PE ratio of 9.25 and a beta of 3.97. Direxion Daily Homebuilders & Supplies Bull 3x Shares has a 52 week low of $34.69 and a 52 week high of $99.01. The business has a 50-day moving average price of $60.40 and a 200-day moving average price of $62.14.

Institutional Investors Weigh In On Direxion Daily Homebuilders & Supplies Bull 3x Shares

Several hedge funds and other institutional investors have recently made changes to their positions in NAIL. FNY Investment Advisers LLC acquired a new stake in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at approximately $1,102,000. JPMorgan Chase & Co. bought a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares in the 3rd quarter valued at $558,000. Jump Financial LLC bought a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares in the 3rd quarter valued at $2,060,000. Finally, Covestor Ltd acquired a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at $159,000.

About Direxion Daily Homebuilders & Supplies Bull 3x Shares

The Direxion Daily Homebuilders & Supplies Bull 3X Shares (NAIL) is an exchange-traded fund that is based on the DJ US Select \u002F Home Construction index. The fund provides 3x daily leveraged bullish exposure to an index composed of US companies within the home construction sector. NAIL was launched on Aug 19, 2015 and is managed by Direxion.