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Direxion Daily S&P 500 Bear 1X ETF
SPDN

44 hedge funds and large institutions have $263M invested in Direxion Daily S&P 500 Bear 1X ETF in 2023 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 8 increasing their positions, 18 reducing their positions, and 39 closing their positions.

New
Increased
Maintained
Reduced
Closed

113% more call options, than puts

Call options by funds: $338K | Put options by funds: $159K

13.52% more ownership

Funds ownership: 50.01% → 63.54% (+14%)

21% less capital invested

Capital invested by funds: $334M → $263M (-$71.1M)

39% less funds holding

Funds holding: 72 → 44 (-28)

44% less funds holding in top 10

Funds holding in top 10: 9 → 5 (-4)

56% less repeat investments, than reductions

Existing positions increased: 8 | Existing positions reduced: 18

69% less first-time investments, than exits

New positions opened: 12 | Existing positions closed: 39

Holders
44
Holders Change
-28
Holders Change %
-38.89%
% of All Funds
0.7%
Holding in Top 10
5
Holding in Top 10 Change
-4
Holding in Top 10 Change %
-44.44%
% of All Funds
0.08%
New
12
Increased
8
Reduced
18
Closed
39
Calls
$338K
Puts
$159K
Net Calls
+$179K
Net Calls Change
-$693K

Top Buyers

Rank Fund Capital Flow
1
IMC Chicago
IMC Chicago
Illinois
+$11.9M
2
LJAC
L.J. Altfest & Co
New York
+$7.76M
3
BAM
Belpointe Asset Management
Nevada
+$3.33M
4
NHFG
New Harbor Financial Group
Massachusetts
+$3.31M
5
Renaissance Technologies
Renaissance Technologies
New York
+$2.6M

Top Sellers

Rank Fund Capital Flow
1
SAM
Synergy Asset Management
Washington
-$7.35M
2
LPL Financial
LPL Financial
California
-$6.78M
3
MAM
Milestone Asset Management
Pennsylvania
-$5.65M
4
HighTower Advisors
HighTower Advisors
Illinois
-$4.91M
5
IA
Inspire Advisors
Idaho
-$4.58M
Name Holding Trade Value Shares
Change 		Change in
Stake
UBS Group
26
UBS Group
Switzerland
$379K +$358K +22,516 +1,168%
TSS
27
Two Sigma Securities
New York
$340K +$350K +21,977 New
CA
28
Cetera Advisors
Colorado
$339K -$491K -30,816 -58%
RCA
29
Resonant Capital Advisors
Wisconsin
$331K -$69K -4,336 -17%
ECM
30
Evergreen Capital Management
Washington
$310K +$318K +20,000 New
AFP
31
Ausdal Financial Partners
Iowa
$191K +$684 +43 +0.3%
HighTower Advisors
32
HighTower Advisors
Illinois
$171K -$4.91M -308,550 -97%
NFSG
33
Newbridge Financial Services Group
Florida
$166K – – –
SIS
34
Strategic Investment Solutions
Illinois
$102K +$105K +6,570 New
AWM
35
AllSquare Wealth Management
New York
$48K – – –
SPIA
36
Steward Partners Investment Advisory
New York
$17.5K – – –
SWM
37
Spire Wealth Management
Virginia
$16.3K +$96 +6 +0.6%
Citadel Advisors
38
Citadel Advisors
Florida
$13.9K +$14.3K +900 New
GRP
39
Global Retirement Partners
California
$9.26K -$35.9K -2,258 -79%
CG
40
Cutler Group
California
$6K -$77.5K -4,867 -92%
HI
41
Harbour Investments
Wisconsin
$5.11K +$5.25K +330 New
TWA
42
TCI Wealth Advisors
Arizona
$310 – – –
Wells Fargo
43
Wells Fargo
California
$24 – – –
IA
44
Inspire Advisors
Idaho
– -$4.58M -277,687 Closed
DAS
45
Dynamic Advisor Solutions
Arizona
– -$4.38M -265,091 Closed
TA
46
Tactive Advisors
Florida
– -$4.34M -262,736 Closed
SWP
47
Stratos Wealth Partners
Ohio
– -$2.77M -167,905 Closed
HF
48
HRT Financial
New York
– -$2.7M -163,815 Closed
Envestnet Asset Management
49
Envestnet Asset Management
Illinois
– -$2.45M -148,199 Closed
Bank of Montreal
50
Bank of Montreal
Ontario, Canada
– -$2.45M -147,725 Closed
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SPDN Hedge Fund Activity: Q1 2023 in Review

44 of the 6,275 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bear 1X ETF (SPDN) for Q1 2023, worth a combined $263M — down 21% from $334M a quarter earlier.

Sellers outnumbered buyers: 39 funds closed out of SPDN and 12 opened new positions — a net loss of 27 holders — while 18 trimmed existing stakes and 8 added.

The largest buyer was IMC Chicago, opening a new position worth an estimated $11.9M. The largest seller was Synergy Asset Management, cutting an estimated $7.35M.

  • 44 institutional investors held Direxion Daily S&P 500 Bear 1X ETF (SPDN) as of Q1 2023, down from 72 in Q4 2022.
  • Funds reported $263M of Direxion Daily S&P 500 Bear 1X ETF stock for Q1 2023, down 21% quarter-over-quarter.
  • 12 funds opened new Direxion Daily S&P 500 Bear 1X ETF positions in Q1 2023 and 39 closed out, a net change of -27 holders.
  • The largest Direxion Daily S&P 500 Bear 1X ETF buyer in Q1 2023 was IMC Chicago, an estimated $11.9M added.
  • The largest Direxion Daily S&P 500 Bear 1X ETF seller in Q1 2023 was Synergy Asset Management, an estimated $7.35M sold.

Based on aggregated 13F filings for Q1 2023.