DRV - Direxion Daily MSCI Real Estate Bear 3X Shares

NYSEArca - NYSEArca Delayed Price. Currency in USD
29.75
+1.30 (+4.57%)
At close: 3:59PM EDT
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Previous Close28.45
Open28.65
Bid16.00 x 1400
Ask0.00 x 1200
Day's Range28.10 - 30.02
52 Week Range28.10 - 63.40
Volume50,005
Avg. Volume26,062
Net Assets17.5M
NAV28.57
PE Ratio (TTM)N/A
Yield1.29%
YTD Return-46.84%
Beta (3Y Monthly)-1.68
Expense Ratio (net)1.10%
Inception Date2009-07-16
Trade prices are not sourced from all markets
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    Existing Home Sales Plunge to 3-Year Low, Pushing ‘DRV’ Higher

    Existing U.S. home sales hit their lowest level in three years last month, according to the National Association of Realtors (NAR), which boosted the Direxion Daily MSCI Real Est Bear 3X ETF DRV (DRV B-) by as much as 2.7 percent on Thursday.

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    A rising rate landscape continues to rock the foundations of the real estate sector, particularly when it comes to homebuilders, which could benefit the  Direxion Daily MSCI Real Est Bear 3X ETF (DRV) , but put persistent downward pressure on the  Direxion Daily Homebuilders and Supplies Bull 3X Shares (NAIL) . With 30-year mortgage rates already surpassing the 5% mark, the cost to finance a home is getting more expensive, clamping down a housing market that has been lagging even as U.S. equities were in the midst of a historic bull run. Compounding the issue is the benchmark U.S. Treasury yield on the 10-year note reaching a new seven-year high.

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    Weakness in Real Estate Sector is Perfect Setup for ‘DRV’ ETF

    The latest round of Chinese tariffs took effect yesterday as the United States and China continue waging their seemingly endless tariff-for-tariff war, which is set to increase the cost of homebuilding and thus, affect homebuilder ETFs like the iShares US Home Construction ETF (ITB), SPDR S&P Homebuilders ETF (XHB) and the Invesco Dynamic Building & Construction ETF (PKB) . DRV seeks daily investment results equal to 300% of the inverse of the daily performance of the MSCI US REIT Index, which is a free float-adjusted market capitalization weighted index that is comprised of equity REITs that are included in the MSCI US Investable Market 2500 Index. As it currently stands, the housing market is already feeling the pangs of rising interest rates crimping homebuyer enthusiasm to take on financing to purchase real estate.