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

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) saw a significant increase in short interest in 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. Currently, 14.0% of the company’s shares are sold short. Based on an average daily trading volume, of 2,447,002 shares, the short-interest ratio is currently 0.5 days.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares in the 3rd quarter worth approximately $558,000. FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the third quarter worth $1,102,000. Jump Financial LLC bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares during the third quarter worth $2,060,000. Finally, Covestor Ltd bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares during the third quarter worth $159,000.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Stock Performance

Shares of NAIL traded down $2.00 during mid-day trading on Thursday, reaching $37.78. 1,248,704 shares of the company were exchanged, compared to its average volume of 1,639,499. Direxion Daily Homebuilders & Supplies Bull 3x Shares has a 52 week low of $34.69 and a 52 week high of $99.01. The stock has a market capitalization of $358.91 million, a PE ratio of 9.25 and a beta of 3.97. The business has a 50 day simple moving average of $59.16 and a two-hundred day simple moving average of $61.81.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Company Profile

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.