Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Trading Down 6.8% – Should You Sell?

Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL)’s stock price traded down 6.8% during mid-day trading on Wednesday . The company traded as low as $50.16 and last traded at $50.16. 1,837,237 shares were traded during trading, an increase of 56% from the average session volume of 1,179,978 shares. The stock had previously closed at $53.82.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Stock Performance

The stock has a market capitalization of $547.52 million, a PE ratio of 9.25 and a beta of 3.97. The firm’s 50 day moving average is $55.77 and its two-hundred day moving average is $65.04.

Institutional Inflows and Outflows

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

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.