Direxion Daily S&P 500 Bear 3x ETF
SPXS
39 hedge funds and large institutions have $35.7M invested in Direxion Daily S&P 500 Bear 3x ETF in 2025 Q3 according to their latest regulatory filings, with 13 funds opening new positions, 16 increasing their positions, 6 reducing their positions, and 25 closing their positions.
167% more repeat investments, than reductions
Existing positions increased: 16 | Existing positions reduced: 6
72% more capital invested
Capital invested by funds: $20.8M → $35.7M (+$14.9M)
0.35% more ownership
Funds ownership: 0.5% → 0.84% (+0.35%)
24% less funds holding
Funds holding: 51 → 39 (-12)
29% less call options, than puts
Call options by funds: $38.2M | Put options by funds: $54M
48% less first-time investments, than exits
New positions opened: 13 | Existing positions closed: 25
100% less funds holding in top 10
Funds holding in top 10: 2 → 0 (-2)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Citadel Advisors
Miami,
Florida
|
+$10.7M |
| 2 |
Jane Street
New York
|
+$6.05M |
| 3 |
JF
Jump Financial
Chicago,
Illinois
|
+$4.06M |
| 4 |
VF
Virtu Financial
New York
|
+$2.01M |
| 5 |
S
SignatureFD
Atlanta,
Georgia
|
+$1.93M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
IMC Chicago
Chicago,
Illinois
|
-$3.05M |
| 2 |
BRF
B. Riley Financial
Los Angeles,
California
|
-$2.81M |
| 3 |
HSA
HBK Sorce Advisory
Erie,
Pennsylvania
|
-$1.16M |
| 4 |
Simplex Trading
Chicago,
Illinois
|
-$1.07M |
| 5 |
Squarepoint
New York
|
-$891K |
SPXS Hedge Fund Activity: Q3 2025 in Review
39 of the 7,621 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily S&P 500 Bear 3x ETF (SPXS) for Q3 2025, worth a combined $35.7M — up 72% from $20.8M a quarter earlier.
Sellers outnumbered buyers: 25 funds closed out of SPXS and 13 opened new positions — a net loss of 12 holders — while 6 trimmed existing stakes and 16 added.
The largest buyer was Citadel Advisors, adding an estimated $10.7M. The largest seller was IMC Chicago, exiting entirely with an estimated $3.05M sold.
- 39 institutional investors held Direxion Daily S&P 500 Bear 3x ETF (SPXS) as of Q3 2025, down from 51 in Q2 2025.
- Funds reported $35.7M of Direxion Daily S&P 500 Bear 3x ETF stock for Q3 2025, up 72% quarter-over-quarter.
- 13 funds opened new Direxion Daily S&P 500 Bear 3x ETF positions in Q3 2025 and 25 closed out, a net change of -12 holders.
- The largest Direxion Daily S&P 500 Bear 3x ETF buyer in Q3 2025 was Citadel Advisors, an estimated $10.7M added.
- The largest Direxion Daily S&P 500 Bear 3x ETF seller in Q3 2025 was IMC Chicago, an estimated $3.05M sold.
Based on aggregated 13F filings for Q3 2025.