Direxion Daily Small Cap Bear 3x ETF

TZA

Market cap $213M

TZA Hedge Fund Activity: Q1 2026 in Review

36 of the 8,130 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Small Cap Bear 3x ETF (TZA) for Q1 2026, worth a combined $39.4M — up 36% from $29M a quarter earlier.

Buyers outnumbered sellers: 13 funds opened new TZA positions and 6 closed out — a net gain of 7 holders — while 11 added to existing stakes and 6 trimmed.

The largest buyer was Citadel Advisors, adding an estimated $4.8M. The largest seller was Jump Financial, cutting an estimated $5.31M.

• 36 institutional investors held Direxion Daily Small Cap Bear 3x ETF (TZA) as of Q1 2026, up from 30 in Q4 2025.
• Funds reported $39.4M of Direxion Daily Small Cap Bear 3x ETF stock for Q1 2026, up 36% quarter-over-quarter.
• 13 funds opened new Direxion Daily Small Cap Bear 3x ETF positions in Q1 2026 and 6 closed out, a net change of +7 holders.
• The largest Direxion Daily Small Cap Bear 3x ETF buyer in Q1 2026 was Citadel Advisors, an estimated $4.8M added.
• The largest Direxion Daily Small Cap Bear 3x ETF seller in Q1 2026 was Jump Financial, an estimated $5.31M sold.

Based on aggregated 13F filings for Q1 2026.