Direxion Daily S&P 500 Bear 1X ETF
SPDN
49 hedge funds and large institutions have $72.3M invested in Direxion Daily S&P 500 Bear 1X ETF in 2025 Q2 according to their latest regulatory filings, with 10 funds opening new positions, 14 increasing their positions, 19 reducing their positions, and 21 closing their positions.
5.13% less ownership
Funds ownership: 62.67% → 57.55% (-5.1%)
18% less funds holding
Funds holding: 60 → 49 (-11)
26% less repeat investments, than reductions
Existing positions increased: 14 | Existing positions reduced: 19
42% less capital invested
Capital invested by funds: $124M → $72.3M (-$51.5M)
52% less first-time investments, than exits
New positions opened: 10 | Existing positions closed: 21
67% less funds holding in top 10
Funds holding in top 10: 6 → 2 (-4)
100% less call options, than puts
Call options by funds: $0 | Put options by funds: $4.82M
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$6.02M |
| 2 |
AWA
Arkadios Wealth Advisors
Atlanta,
Georgia
|
+$4.47M |
| 3 |
JF
Jump Financial
Chicago,
Illinois
|
+$3.79M |
| 4 |
HF
HRT Financial
New York
|
+$3.16M |
| 5 |
IMC Chicago
Chicago,
Illinois
|
+$2.58M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Envestnet Asset Management
Chicago,
Illinois
|
-$14.2M |
| 2 |
TI
TTP Investments
San Jose,
California
|
-$13.3M |
| 3 |
LCWP
Legacy Capital Wealth Partners
Little Rock,
Arkansas
|
-$11.8M |
| 4 |
MWM
Moulton Wealth Management
Spokane,
Washington
|
-$4.69M |
| 5 |
PAM
PVG Asset Management
Golden,
Colorado
|
-$4.08M |
SPDN Hedge Fund Activity: Q2 2025 in Review
49 of the 7,613 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bear 1X ETF (SPDN) for Q2 2025, worth a combined $72.3M — down 42% from $124M a quarter earlier.
Sellers outnumbered buyers: 21 funds closed out of SPDN and 10 opened new positions — a net loss of 11 holders — while 19 trimmed existing stakes and 14 added.
The largest buyer was Citadel Advisors, adding an estimated $6.02M. The largest seller was Envestnet Asset Management, cutting an estimated $14.2M.
- 49 institutional investors held Direxion Daily S&P 500 Bear 1X ETF (SPDN) as of Q2 2025, down from 60 in Q1 2025.
- Funds reported $72.3M of Direxion Daily S&P 500 Bear 1X ETF stock for Q2 2025, down 42% quarter-over-quarter.
- 10 funds opened new Direxion Daily S&P 500 Bear 1X ETF positions in Q2 2025 and 21 closed out, a net change of -11 holders.
- The largest Direxion Daily S&P 500 Bear 1X ETF buyer in Q2 2025 was Citadel Advisors, an estimated $6.02M added.
- The largest Direxion Daily S&P 500 Bear 1X ETF seller in Q2 2025 was Envestnet Asset Management, an estimated $14.2M sold.
Based on aggregated 13F filings for Q2 2025.