Short Interest in Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Drops By 50.3%

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) was the target of a large decline in short interest in the month of March. As of March 31st, there was short interest totaling 663,222 shares, a decline of 50.3% from the March 15th total of 1,333,328 shares. Approximately 5.0% of the shares of the company are sold short. Based on an average daily volume of 1,650,027 shares, the days-to-cover ratio is presently 0.4 days.

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

A number of large investors have recently made changes to their positions in NAIL. Jump Financial LLC bought a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at about $2,060,000. FNY Investment Advisers LLC bought a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at about $1,102,000. JPMorgan Chase & Co. bought a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at about $558,000. Finally, Covestor Ltd bought a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares during the 3rd quarter valued at about $159,000.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Stock Up 3.2%

Shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares stock traded up $1.35 during trading hours on Monday, reaching $43.51. 851,550 shares of the stock traded hands, compared to its average volume of 1,628,015. The company has a 50 day moving average price of $53.43 and a 200 day moving average price of $57.86. The firm has a market capitalization of $583.03 million, a price-to-earnings ratio of 9.25 and a beta of 4.20. Direxion Daily Homebuilders & Supplies Bull 3x Shares has a one year low of $34.69 and a one year high of $99.01.

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.