Direxion Daily S&P 500 Bull 3x ETF
SPXL
130 hedge funds and large institutions have $604M invested in Direxion Daily S&P 500 Bull 3x ETF in 2025 Q1 according to their latest regulatory filings, with 21 funds opening new positions, 38 increasing their positions, 41 reducing their positions, and 31 closing their positions.
27% more call options, than puts
Call options by funds: $277M | Put options by funds: $218M
7% less repeat investments, than reductions
Existing positions increased: 38 | Existing positions reduced: 41
9% less funds holding
Funds holding: 143 → 130 (-13)
16.31% less ownership
Funds ownership: 30.27% → 13.95% (-16%)
32% less first-time investments, than exits
New positions opened: 21 | Existing positions closed: 31
36% less funds holding in top 10
Funds holding in top 10: 11 → 7 (-4)
63% less capital invested
Capital invested by funds: $1.61B → $604M (-$1.01B)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Goldman Sachs
New York
|
+$16.7M |
| 2 |
QC
Quadrature Capital
London,
United Kingdom
|
+$8.28M |
| 3 |
PIS
PPSC Investment Service
Tokyo,
Japan
|
+$7.22M |
| 4 |
GS
GTS Securities
New York
|
+$6.07M |
| 5 |
MCA
Millennium Capital Advisors
Little Rock,
Arkansas
|
+$1.91M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
HCM
Howard Capital Management
Roswell,
Georgia
|
-$408M |
| 2 |
PFM
Potomac Fund Management
Miami,
Florida
|
-$408M |
| 3 |
Citadel Advisors
Miami,
Florida
|
-$55.9M |
| 4 |
Wolverine Trading
Chicago,
Illinois
|
-$11.5M |
| 5 |
Jane Street
New York
|
-$11.4M |
SPXL Hedge Fund Activity: Q1 2025 in Review
130 of the 7,457 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bull 3x ETF (SPXL) for Q1 2025, worth a combined $604M — down 63% from $1.61B a quarter earlier.
Sellers outnumbered buyers: 31 funds closed out of SPXL and 21 opened new positions — a net loss of 10 holders — while 41 trimmed existing stakes and 38 added.
The largest buyer was Goldman Sachs, adding an estimated $16.7M. The largest seller was Howard Capital Management, exiting entirely with an estimated $408M sold.
- 130 institutional investors held Direxion Daily S&P 500 Bull 3x ETF (SPXL) as of Q1 2025, down from 143 in Q4 2024.
- Funds reported $604M of Direxion Daily S&P 500 Bull 3x ETF stock for Q1 2025, down 63% quarter-over-quarter.
- 21 funds opened new Direxion Daily S&P 500 Bull 3x ETF positions in Q1 2025 and 31 closed out, a net change of -10 holders.
- The largest Direxion Daily S&P 500 Bull 3x ETF buyer in Q1 2025 was Goldman Sachs, an estimated $16.7M added.
- The largest Direxion Daily S&P 500 Bull 3x ETF seller in Q1 2025 was Howard Capital Management, an estimated $408M sold.
Based on aggregated 13F filings for Q1 2025.