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Direxion Daily Small Cap Bear 3x ETF
TZA

31 hedge funds and large institutions have $83.5M invested in Direxion Daily Small Cap Bear 3x ETF in 2014 Q1 according to their latest regulatory filings, with 12 funds opening new positions, 11 increasing their positions, 6 reducing their positions, and 6 closing their positions.

New
Increased
Maintained
Reduced
Closed

101% more capital invested

Capital invested by funds: $41.6M → $83.5M (+$41.9M)

100% more first-time investments, than exits

New positions opened: 12 | Existing positions closed: 6

99% more call options, than puts

Call options by funds: $69.7M | Put options by funds: $35M

83% more repeat investments, than reductions

Existing positions increased: 11 | Existing positions reduced: 6

24% more funds holding

Funds holding: 25 → 31 (+6)

0% more ownership

Funds ownership: 0% → 0.01% (+0%)

Holders
31
Holders Change
+6
Holders Change %
+24%
% of All Funds
0.9%
Holding in Top 10
2
Holding in Top 10 Change
+2
Holding in Top 10 Change %
% of All Funds
0.06%
New
12
Increased
11
Reduced
6
Closed
6
Calls
$69.7M
Puts
$35M
Net Calls
+$34.7M
Net Calls Change
+$3.2M

Top Buyers

Rank Fund Capital Flow
1
Susquehanna International Group
Susquehanna International Group
Pennsylvania
+$18.3M
2
VF
Virtu Financial
New York
+$13.1M
3
CS
Credit Suisse
Switzerland
+$3.19M
4
AGM
Alpine Global Management
New York
+$2.95M
5
Citadel Advisors
Citadel Advisors
Florida
+$2.31M

Top Sellers

Rank Fund Capital Flow
1
JT
Jump Trading
Illinois
-$425K
2
Royal Bank of Canada
Royal Bank of Canada
Ontario, Canada
-$425K
3
AIG
American International Group
New York
-$385K
4
Bank of America
Bank of America
North Carolina
-$319K
5
Goldman Sachs
Goldman Sachs
New York
-$266K
Name Holding Trade Value Shares
Change 		Change in
Stake
CS
1
Credit Suisse
Switzerland
$18.2M +$3.19M +120 +20%
Susquehanna International Group
2
Susquehanna International Group
Pennsylvania
$17.6M +$18.3M +690 +4,600%
VF
3
Virtu Financial
New York
$17.5M +$13.1M +491 +235%
TH
4
Timber Hill
Connecticut
$3.27M +$532K +20 +18%
AGM
5
Alpine Global Management
New York
$2.76M +$2.95M +111 New
BNP Paribas Financial Markets
6
BNP Paribas Financial Markets
France
$2.74M +$1.12M +42 +72%
Morgan Stanley
7
Morgan Stanley
New York
$2.43M -$186K -7 -7%
VKH
8
Virtu KCG Holdings
New York
$2.21M +$1.46M +55 +162%
Citadel Advisors
9
Citadel Advisors
Florida
$2.17M +$2.31M +87 New
AC
10
Altus Capital
Ohio
$2.14M -$159K -6 -7%
TRCT
11
Tower Research Capital (TRC)
New York
$2.08M +$2.21M +83 New
Goldman Sachs
12
Goldman Sachs
New York
$1.88M -$266K -10 -12%
LPLP
13
Lansdowne Partners Limited Partnership
United Kingdom
$1.56M +$1.67M +63 New
Two Sigma Investments
14
Two Sigma Investments
New York
$1.23M +$1.3M +49 New
Barclays
15
Barclays
United Kingdom
$1.08M +$292K +11 +32%
Royal Bank of Canada
16
Royal Bank of Canada
Ontario, Canada
$981K -$425K -16 -29%
QC
17
QCM Cayman
Texas
$732K +$771K +29 New
Two Sigma Advisers
18
Two Sigma Advisers
New York
$523K +$133K +5 +31%
U
19
UBS
Switzerland
$343K +$133K +5 +56%
VDBMI
20
Van Den Berg Management I
Texas
$340K +$106K +4 +40%
SRC
21
Stone Run Capital
New York
$318K +$53.2K +2 +18%
Citigroup
22
Citigroup
New York
$297K +$319K +12 New
CCM
23
Cadence Capital Management
Massachusetts
$291K +$319K +12 New
Nomura Holdings
24
Nomura Holdings
Japan
$249K – – –
KC
25
Kingfisher Capital
North Carolina
$165K +$186K +7 New
1
2

TZA Hedge Fund Activity: Q1 2014 in Review

31 of the 3,463 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Small Cap Bear 3x ETF (TZA) for Q1 2014, worth a combined $83.5M — up 101% from $41.6M a quarter earlier.

Buyers outnumbered sellers: 12 funds opened new TZA positions and 6 closed out — a net gain of 6 holders — while 11 added to existing stakes and 6 trimmed.

The largest buyer was Susquehanna International Group, adding an estimated $18.3M. The largest seller was Jump Trading, cutting an estimated $425K.

  • 31 institutional investors held Direxion Daily Small Cap Bear 3x ETF (TZA) as of Q1 2014, up from 25 in Q4 2013.
  • Funds reported $83.5M of Direxion Daily Small Cap Bear 3x ETF stock for Q1 2014, up 101% quarter-over-quarter.
  • 12 funds opened new Direxion Daily Small Cap Bear 3x ETF positions in Q1 2014 and 6 closed out, a net change of +6 holders.
  • The largest Direxion Daily Small Cap Bear 3x ETF buyer in Q1 2014 was Susquehanna International Group, an estimated $18.3M added.
  • The largest Direxion Daily Small Cap Bear 3x ETF seller in Q1 2014 was Jump Trading, an estimated $425K sold.

Based on aggregated 13F filings for Q1 2014.