Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Shares Gap Down – What’s Next?

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) shares gapped down before the market opened on Wednesday . The stock had previously closed at $57.84, but opened at $55.27. Direxion Daily Homebuilders & Supplies Bull 3x Shares shares last traded at $57.2680, with a volume of 448,957 shares changing hands.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Trading Down 3.4%

The company has a market capitalization of $578.09 million, a PE ratio of 9.25 and a beta of 3.97. The firm’s 50-day simple moving average is $59.38 and its 200-day simple moving average is $64.67.

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

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

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.