Direxion Daily S&P 500 Bear 3x ETF
SPXS
45 hedge funds and large institutions have $53.1M invested in Direxion Daily S&P 500 Bear 3x ETF in 2025 Q1 according to their latest regulatory filings, with 15 funds opening new positions, 12 increasing their positions, 10 reducing their positions, and 12 closing their positions.
279% more call options, than puts
Call options by funds: $22.8M | Put options by funds: $6.02M
75% more capital invested
Capital invested by funds: $30.3M → $53.1M (+$22.8M)
25% more first-time investments, than exits
New positions opened: 15 | Existing positions closed: 12
20% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 10
5% more funds holding
Funds holding: 43 → 45 (+2)
0.47% more ownership
Funds ownership: 0.81% → 1.27% (+0.47%)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$6.93M |
| 2 |
QC
Quadrature Capital
London,
United Kingdom
|
+$6.02M |
| 3 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
+$3.2M |
| 4 |
Squarepoint
New York
|
+$2.08M |
| 5 |
Simplex Trading
Chicago,
Illinois
|
+$1.68M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VF
Virtu Financial
New York
|
-$4.87M |
| 2 |
GS
GTS Securities
New York
|
-$919K |
| 3 |
FTUS
Flow Traders U.S.
New York
|
-$525K |
| 4 |
Walleye Capital
New York
|
-$222K |
| 5 |
TRCT
Tower Research Capital (TRC)
New York
|
-$216K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
AFS
51
AFG Fiduciary Services
Hingham,
Massachusetts
| – | -$178K | -2,932 | Closed |
|
|
PIMG
52
Patriot Investment Management Group
Knoxville,
Tennessee
| – | -$126K | -2,000 | Closed |
|
|
GF
53
Gimbal Financial
Carmel,
Indiana
| – | -$110K | -1,750 | Closed |
|
|
RG
54
Rathbones Group
Liverpool,
United Kingdom
| – | -$98.5K | -1,568 | Closed |
|
|
MCM
55
MAI Capital Management
Independence,
Ohio
| – | -$28.6K | -456 | Closed |
|
56
Royal Bank of Canada
Toronto,
Ontario, Canada
| – | -$12K | -199 | Closed |
|
57
Citigroup
New York
| – | -$6.28K | -100 | Closed |
|
|
PA
58
Parallel Advisors
San Francisco,
California
| – | -$63 | -1 | Closed |
|
|
SMAM
59
Sugar Maple Asset Management
Sister Bay,
Wisconsin
| – | -$13 | – | – |
|
SPXS Hedge Fund Activity: Q1 2025 in Review
45 of the 7,461 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bear 3x ETF (SPXS) for Q1 2025, worth a combined $53.1M — up 75% from $30.3M a quarter earlier.
Buyers outnumbered sellers: 15 funds opened new SPXS positions and 12 closed out — a net gain of 3 holders — while 12 added to existing stakes and 10 trimmed.
The largest buyer was Jane Street, adding an estimated $6.93M. The largest seller was Virtu Financial, exiting entirely with an estimated $4.87M sold.
- 45 institutional investors held Direxion Daily S&P 500 Bear 3x ETF (SPXS) as of Q1 2025, up from 43 in Q4 2024.
- Funds reported $53.1M of Direxion Daily S&P 500 Bear 3x ETF stock for Q1 2025, up 75% quarter-over-quarter.
- 15 funds opened new Direxion Daily S&P 500 Bear 3x ETF positions in Q1 2025 and 12 closed out, a net change of +3 holders.
- The largest Direxion Daily S&P 500 Bear 3x ETF buyer in Q1 2025 was Jane Street, an estimated $6.93M added.
- The largest Direxion Daily S&P 500 Bear 3x ETF seller in Q1 2025 was Virtu Financial, an estimated $4.87M sold.
Based on aggregated 13F filings for Q1 2025.