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Direxion Daily S&P 500 Bear 3x ETF
SPXS

51 hedge funds and large institutions have $20.8M invested in Direxion Daily S&P 500 Bear 3x ETF in 2025 Q2 according to their latest regulatory filings, with 19 funds opening new positions, 14 increasing their positions, 9 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

56% more repeat investments, than reductions

Existing positions increased: 14 | Existing positions reduced: 9

46% more first-time investments, than exits

New positions opened: 19 | Existing positions closed: 13

13% more funds holding

Funds holding: 45 → 51 (+6)

0.78% less ownership

Funds ownership: 1.27% → 0.5% (-0.78%)

61% less capital invested

Capital invested by funds: $53.1M → $20.8M (-$32.4M)

76% less call options, than puts

Call options by funds: $5.64M | Put options by funds: $23.5M

Holders
51
Holders Change
+6
Holders Change %
+13.33%
% of All Funds
0.67%
Holding in Top 10
2
Holding in Top 10 Change
+2
Holding in Top 10 Change %
% of All Funds
0.03%
New
19
Increased
14
Reduced
9
Closed
13
Calls
$5.64M
Puts
$23.5M
Net Calls
-$17.8M
Net Calls Change
-$34.6M

Top Buyers

Rank Fund Capital Flow
1
IMC Chicago
IMC Chicago
Illinois
+$4.01M
2
BRF
B. Riley Financial
California
+$3.7M
3
JF
Jump Financial
Illinois
+$2.02M
4
HW
Hamilton Wealth
California
+$557K
5
S
SignatureFD
Georgia
+$457K

Top Sellers

Rank Fund Capital Flow
1
Jane Street
Jane Street
New York
-$9.84M
2
Citadel Advisors
Citadel Advisors
Florida
-$6.84M
3
QC
Quadrature Capital
United Kingdom
-$6.82M
4
Susquehanna International Group
Susquehanna International Group
Pennsylvania
-$4.44M
5
Squarepoint
Squarepoint
New York
-$1.74M
Name Holding Trade Value Shares
Change 		Change in
Stake
FDCDDQ
51
Federation des caisses Desjardins du Quebec
Quebec, Canada
$66 – – –
QC
52
Quadrature Capital
United Kingdom
– -$6.82M -95,681 Closed
COCM
53
Charter Oak Capital Management
New Hampshire
– -$1.08M -15,137 Closed
Group One Trading
54
Group One Trading
Illinois
– -$753K -10,572 Closed
CCA
55
Cadent Capital Advisors
Oklahoma
– -$659K -9,257 Closed
DS
56
DRW Securities
Illinois
– -$419K -5,889 Closed
FTUS
57
Flow Traders U.S.
New York
– -$214K -3,001 Closed
Wolverine Trading
58
Wolverine Trading
Illinois
– -$178K -2,449 Closed
AIA
59
Accelerate Investment Advisors
California
– -$116K -1,631 Closed
XT
60
XTX Topco
Cayman Islands
– -$99.4K -1,396 Closed
ACM
61
Avalon Capital Management
California
– -$79.7K -1,120 Closed
WC
62
Waterloo Capital
Texas
– -$78.3K -1,100 Closed
FS
63
Financially Speaking
Colorado
– -$11K -155 Closed
PNC Financial Services Group
64
PNC Financial Services Group
Pennsylvania
– -$7.12K -100 Closed
CA
65
Continuum Advisory
Idaho
– -$28 – –
1 2
3

SPXS Hedge Fund Activity: Q2 2025 in Review

51 of the 7,596 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bear 3x ETF (SPXS) for Q2 2025, worth a combined $20.8M — down 61% from $53.1M a quarter earlier.

Buyers outnumbered sellers: 19 funds opened new SPXS positions and 13 closed out — a net gain of 6 holders — while 14 added to existing stakes and 9 trimmed.

The largest buyer was IMC Chicago, opening a new position worth an estimated $4.01M. The largest seller was Jane Street, cutting an estimated $9.84M.

  • 51 institutional investors held Direxion Daily S&P 500 Bear 3x ETF (SPXS) as of Q2 2025, up from 45 in Q1 2025.
  • Funds reported $20.8M of Direxion Daily S&P 500 Bear 3x ETF stock for Q2 2025, down 61% quarter-over-quarter.
  • 19 funds opened new Direxion Daily S&P 500 Bear 3x ETF positions in Q2 2025 and 13 closed out, a net change of +6 holders.
  • The largest Direxion Daily S&P 500 Bear 3x ETF buyer in Q2 2025 was IMC Chicago, an estimated $4.01M added.
  • The largest Direxion Daily S&P 500 Bear 3x ETF seller in Q2 2025 was Jane Street, an estimated $9.84M sold.

Based on aggregated 13F filings for Q2 2025.