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Direxion Daily Small Cap Bear 3x ETF
TZA

25 hedge funds and large institutions have $41.6M invested in Direxion Daily Small Cap Bear 3x ETF in 2013 Q4 according to their latest regulatory filings, with 10 funds opening new positions, 7 increasing their positions, 6 reducing their positions, and 13 closing their positions.

New
Increased
Maintained
Reduced
Closed

84% more call options, than puts

Call options by funds: $68.9M | Put options by funds: $37.4M

17% more repeat investments, than reductions

Existing positions increased: 7 | Existing positions reduced: 6

0% less ownership

Funds ownership: 0.01% → 0% (-0%)

11% less funds holding

Funds holding: 28 → 25 (-3)

23% less first-time investments, than exits

New positions opened: 10 | Existing positions closed: 13

67% less capital invested

Capital invested by funds: $126M → $41.6M (-$84M)

100% less funds holding in top 10

Funds holding in top 10: 1 → 0 (-1)

Holders
25
Holders Change
-3
Holders Change %
-10.71%
% of All Funds
0.73%
Holding in Top 10
–
Holding in Top 10 Change
-1
Holding in Top 10 Change %
-100%
% of All Funds
–
New
10
Increased
7
Reduced
6
Closed
13
Calls
$68.9M
Puts
$37.4M
Net Calls
+$31.5M
Net Calls Change
+$21.7M

Top Buyers

Rank Fund Capital Flow
1
VF
Virtu Financial
New York
+$5.38M
2
TH
Timber Hill
Connecticut
+$2.85M
3
BNP Paribas Financial Markets
BNP Paribas Financial Markets
France
+$864K
4
JT
Jump Trading
Illinois
+$672K
5
AC
Altus Capital
Ohio
+$640K

Top Sellers

Rank Fund Capital Flow
1
CS
Credit Suisse
Switzerland
-$52.8M
2
Goldman Sachs
Goldman Sachs
New York
-$6.11M
3
VKH
Virtu KCG Holdings
New York
-$5.7M
4
TRCT
Tower Research Capital (TRC)
New York
-$3.13M
5
Zurich Cantonal Bank
Zurich Cantonal Bank
Switzerland
-$1.36M
Name Holding Trade Value Shares
Change 		Change in
Stake
PAS
26
Partnervest Advisory Services
California
$2K – – –
PMFA
27
Plante Moran Financial Advisors
Michigan
$2K – – –
TRCT
28
Tower Research Capital (TRC)
New York
– -$3.13M -86 Closed
Zurich Cantonal Bank
29
Zurich Cantonal Bank
Switzerland
– -$1.36M -38 Closed
CCM
30
Cadence Capital Management
Massachusetts
– -$1.23M -34 Closed
Citigroup
31
Citigroup
New York
– -$1.17M -32 Closed
KAM
32
Keeley Asset Management
Illinois
– -$750K -21 Closed
BHA
33
Beech Hill Advisors
New York
– -$573K -16 Closed
QC
34
QCM Cayman
Texas
– -$559K -15 Closed
ACP
35
Aviance Capital Partners
Florida
– -$454K -13 Closed
CA
36
Commerzbank Aktiengesellschaft
Germany
– -$382K -11 Closed
HT
37
HAP Trading
New York
– -$309K -9 Closed
JP Morgan Chase
38
JP Morgan Chase
New York
– -$282K -8 Closed
CHAM
39
Clear Harbor Asset Management
Connecticut
– -$23K -1 Closed
PCM
40
Prelude Capital Management
New York
– -$32K -1 Closed
GGPS
41
Gary Goldberg Planning Services
New York
– -$9K – –
US Bancorp
42
US Bancorp
Minnesota
– -$5K – –
1
2

TZA Hedge Fund Activity: Q4 2013 in Review

25 of the 3,446 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Small Cap Bear 3x ETF (TZA) for Q4 2013, worth a combined $41.6M — down 67% from $126M a quarter earlier.

Sellers outnumbered buyers: 13 funds closed out of TZA and 10 opened new positions — a net loss of 3 holders — while 6 trimmed existing stakes and 7 added.

The largest buyer was Virtu Financial, adding an estimated $5.38M. The largest seller was Credit Suisse, cutting an estimated $52.8M.

  • 25 institutional investors held Direxion Daily Small Cap Bear 3x ETF (TZA) as of Q4 2013, down from 28 in Q3 2013.
  • Funds reported $41.6M of Direxion Daily Small Cap Bear 3x ETF stock for Q4 2013, down 67% quarter-over-quarter.
  • 10 funds opened new Direxion Daily Small Cap Bear 3x ETF positions in Q4 2013 and 13 closed out, a net change of -3 holders.
  • The largest Direxion Daily Small Cap Bear 3x ETF buyer in Q4 2013 was Virtu Financial, an estimated $5.38M added.
  • The largest Direxion Daily Small Cap Bear 3x ETF seller in Q4 2013 was Credit Suisse, an estimated $52.8M sold.

Based on aggregated 13F filings for Q4 2013.