Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) Shares Up 0.4% – Still a Buy?

Shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) shot up 0.4% on Tuesday . The stock traded as high as $56.80 and last traded at $56.06. 875,595 shares traded hands during mid-day trading, a decline of 3% from the average session volume of 898,311 shares. The stock had previously closed at $55.82.

Direxion Daily Homebuilders & Supplies Bull 3x Shares Price Performance

The firm has a fifty day moving average of $73.44 and a two-hundred day moving average of $63.62. The stock has a market capitalization of $577.42 million, a P/E ratio of 9.25 and a beta of 3.97.

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

A hedge fund recently bought a new stake in Direxion Daily Homebuilders & Supplies Bull 3x Shares stock. Covestor Ltd purchased a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3x Shares (NYSEARCA:NAIL) in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 2,164 shares of the company’s stock, valued at approximately $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.