Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Trading 12.4% Higher – Here’s What Happened

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL)’s share price traded up 12.4% during mid-day trading on Friday . The stock traded as high as $53.67 and last traded at $53.2140. 660,702 shares traded hands during mid-day trading, a decline of 26% from the average session volume of 898,530 shares. The stock had previously closed at $47.36.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Price Performance

The stock has a market capitalization of $568.01 million, a price-to-earnings ratio of 9.25 and a beta of 3.97. The stock has a 50-day moving average of $65.17 and a 200 day moving average of $63.52.

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

A number of institutional investors and hedge funds have recently modified their holdings of NAIL. Jump Financial LLC bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at approximately $2,060,000. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at $558,000. Finally, Covestor Ltd acquired a new position in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares in 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.