Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Stock Price Up 7.1% – Should You Buy?

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) shot up 7.1% on Thursday . The stock traded as high as $53.80 and last traded at $53.4650. 904,340 shares changed hands during mid-day trading, a decline of 21% from the average session volume of 1,146,524 shares. The stock had previously closed at $49.94.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Stock Up 18.5%

The firm has a fifty day moving average of $55.69 and a 200-day moving average of $64.98. The stock has a market capitalization of $722.18 million, a price-to-earnings ratio of 9.25 and a beta of 3.97.

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

A number of large investors have recently added to or reduced their stakes in NAIL. Jump Financial LLC purchased a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at about $2,060,000. FNY Investment Advisers LLC acquired a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at approximately $1,102,000. JPMorgan Chase & Co. purchased a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter worth approximately $558,000. Finally, Covestor Ltd acquired a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter worth approximately $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.