Direxion Daily Small Cap Bear 3x ETF
TZA
32 hedge funds and large institutions have $49.6M invested in Direxion Daily Small Cap Bear 3x ETF in 2025 Q1 according to their latest regulatory filings, with 7 funds opening new positions, 8 increasing their positions, 10 reducing their positions, and 6 closing their positions.
152% more call options, than puts
Call options by funds: $49.8M | Put options by funds: $19.8M
17% more first-time investments, than exits
New positions opened: 7 | Existing positions closed: 6
0% more funds holding
Funds holding: 32 → 32 (0)
0.38% less ownership
Funds ownership: 2.13% → 1.76% (-0.38%)
6% less capital invested
Capital invested by funds: $52.7M → $49.6M (-$3.02M)
20% less repeat investments, than reductions
Existing positions increased: 8 | Existing positions reduced: 10
100% less funds holding in top 10
Funds holding in top 10: 1 → 0 (-1)
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Jane Street
New York
|
+$5.98M |
| 2 |
TSS
Two Sigma Securities
New York
|
+$3.59M |
| 3 |
CL
Choreo LLC
Rockford,
Illinois
|
+$3.1M |
| 4 |
Group One Trading
Chicago,
Illinois
|
+$2.08M |
| 5 |
FTUS
Flow Traders U.S.
New York
|
+$1.1M |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
VF
Virtu Financial
New York
|
-$16.2M |
| 2 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$8.39M |
| 3 |
IMC Chicago
Chicago,
Illinois
|
-$4.29M |
| 4 |
Citadel Advisors
Miami,
Florida
|
-$3.22M |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$457K |
TZA Hedge Fund Activity: Q1 2025 in Review
32 of the 7,461 institutional investors tracked by Wall St. Rank reported a position in Direxion Daily Small Cap Bear 3x ETF (TZA) for Q1 2025, worth a combined $49.6M — down 5.7% from $52.7M a quarter earlier.
Buyers outnumbered sellers: 7 funds opened new TZA positions and 6 closed out — a net gain of 1 holder — while 8 added to existing stakes and 10 trimmed.
The largest buyer was Jane Street, adding an estimated $5.98M. The largest seller was Virtu Financial, cutting an estimated $16.2M.
- 32 institutional investors held Direxion Daily Small Cap Bear 3x ETF (TZA) as of Q1 2025, unchanged from Q4 2024.
- Funds reported $49.6M of Direxion Daily Small Cap Bear 3x ETF stock for Q1 2025, down 5.7% quarter-over-quarter.
- 7 funds opened new Direxion Daily Small Cap Bear 3x ETF positions in Q1 2025 and 6 closed out, a net change of +1 holder.
- The largest Direxion Daily Small Cap Bear 3x ETF buyer in Q1 2025 was Jane Street, an estimated $5.98M added.
- The largest Direxion Daily Small Cap Bear 3x ETF seller in Q1 2025 was Virtu Financial, an estimated $16.2M sold.
Based on aggregated 13F filings for Q1 2025.