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.
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
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
+$11.9M |
| 2 |
LJAC
L.J. Altfest & Co
New York
|
+$7.76M |
| 3 |
BAM
Belpointe Asset Management
Reno,
Nevada
|
+$3.33M |
| 4 |
NHFG
New Harbor Financial Group
Worcester,
Massachusetts
|
+$3.31M |
| 5 |
Renaissance Technologies
New York
|
+$2.6M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SAM
Synergy Asset Management
Vancouver,
Washington
|
-$7.35M |
| 2 |
LPL Financial
San Diego,
California
|
-$6.78M |
| 3 |
MAM
Milestone Asset Management
Pittsburgh,
Pennsylvania
|
-$5.65M |
| 4 |
HighTower Advisors
Chicago,
Illinois
|
-$4.91M |
| 5 |
IA
Inspire Advisors
Meridian,
Idaho
|
-$4.58M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
76
Simplex Trading
Chicago,
Illinois
| – | -$105K | -6,587 | -100% |
|
|
IA
77
IFP Advisors
Tampa,
Florida
| – | -$146K | -4,916 | Closed |
|
78
Qube Research & Technologies (QRT)
London,
United Kingdom
| – | -$74.8K | -4,532 | Closed |
|
79
William Blair & Company
Chicago,
Illinois
| – | -$9.91K | -600 | Closed |
|
|
BC
80
Belmont Capital
Los Angeles,
California
| – | -$6K | -374 | Closed |
|
81
Osaic Holdings
Scottsdale,
Arizona
| – | -$4.52K | -274 | Closed |
|
|
GWS
82
Glassman Wealth Services
Vienna,
Virginia
| – | -$3.67K | -222 | Closed |
|
83
Morgan Stanley
New York
| – | -$297 | -18 | Closed |
|
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.