Direxion Daily Homebuilders & Supplies Bull 3X ETF (NYSEARCA:NAIL) Stock Short Interest Climbs 61.9%

Direxion Daily Homebuilders & Supplies Bull 3X ETF (NYSEARCA:NAIL) was the target of a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,979,753 shares, an increase of 61.9% from the September 30th total of 1,222,657 shares. Currently, 9.9% of the shares of the company are sold short. Based on an average daily volume of 2,692,274 shares, the days-to-cover ratio is presently 0.7 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of NAIL. IFP Advisors Inc raised its holdings in Direxion Daily Homebuilders & Supplies Bull 3X ETF by 28.3% during the 2nd quarter. IFP Advisors Inc now owns 1,663 shares of the company’s stock valued at $86,000 after acquiring an additional 367 shares during the period. Headlands Technologies LLC purchased a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3X ETF during the second quarter worth $391,000. Finally, VestGen Advisors LLC purchased a new stake in shares of Direxion Daily Homebuilders & Supplies Bull 3X ETF during the third quarter worth $231,000.

Direxion Daily Homebuilders & Supplies Bull 3X ETF Stock Down 6.3%

Shares of NYSEARCA:NAIL opened at $35.06 on Tuesday. The firm has a market capitalization of $659.07 million, a PE ratio of 9.25 and a beta of 3.84. The company has a 50-day moving average price of $30.74 and a two-hundred day moving average price of $43.24. Direxion Daily Homebuilders & Supplies Bull 3X ETF has a twelve month low of $23.31 and a twelve month high of $81.20.

Direxion Daily Homebuilders & Supplies Bull 3X ETF 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.