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Benzinga
Benzinga
Business
Melanie Schaffer

Is This Homebuilding ETF (NAIL) Ready To Reverse Course?

NAIL ETF NYSE

Direxion Daily Homebuilders & Supplies Bull 3X Shares (NYSE:NAIL) was spiking up almost 7% higher on Friday, in an attempt to reverse course from its most recent downtrend, which began on May 4.

NAIL is a triple leveraged fund that is designed to outperform 52 U.S. companies in the home construction sector that are trading on the Dow Jones. The index includes a variety of companies from home construction firms, interior furnishings to home improvement retailers, building material manufacturers and suppliers.

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