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

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

Hedge Funds Weigh In On Direxion Daily Homebuilders & Supplies Bull 3x Shares

Hedge funds have recently added to or reduced their stakes in the company. FNY Investment Advisers LLC bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at about $1,102,000. Covestor Ltd bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at about $159,000. JPMorgan Chase & Co. bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at about $558,000. Finally, Jump Financial LLC bought a new position in Direxion Daily Homebuilders & Supplies Bull 3x Shares in the third quarter valued at about $2,060,000.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Stock Down 1.2%

Direxion Daily Homebuilders & Supplies Bull 3x Shares stock opened at $42.16 on Friday. The business’s 50-day simple moving average is $53.72 and its 200 day simple moving average is $58.16. The stock has a market cap of $560.73 million, a price-to-earnings ratio of 9.25 and a beta of 4.20. Direxion Daily Homebuilders & Supplies Bull 3x Shares has a 12-month low of $34.69 and a 12-month 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.