Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Direxion Shares ETF Trust (DFEN)

31 + Investors. Track Smart Money conviction in DFEN. See who's accumulating, reducing, or initiating positions.

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
→ 0
Streak
1Q —
Buyers last Q
48%

Smart Money Signals — DFEN

Based on 32 hedge funds · latest filing: 2026 Q1 · updated quarterly

➡️

No change last quarter

last 6Q
The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.
📊

High ownership — 89% of 3.0Y peak

89% of all-time peak
32 funds currently hold this stock — 89% of the 3.0-year high of 36 funds (reached 2025 Q2). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 6% fewer funds vs a year ago

fund count last 6Q
2 fewer hedge funds hold DFEN compared to a year ago (-6% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟠

More sellers than buyers — 48% buying

19 buying21 selling
Last quarter: 21 funds reduced or exited vs 19 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.
➡️

Steady new buyers — ~8 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 11 → 7 → 7 → 8. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

47% of holders stayed for 2+ years

■ 47% conviction (2yr+) ■ 34% medium ■ 19% new
15 out of 32 hedge funds have held DFEN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.
📊

Peak discovery — momentum slowing

10 → 11 → 7 → 7 → 8 new funds/Q
New funds entering each quarter: 11 → 7 → 7 → 8. DFEN is well-known in the hedge fund world, but fresh entries are gradually declining. The explosive phase of institutional discovery is likely behind us.
🏛️

Veteran-anchored — 66% veterans vs 26% newcomers

■ 66% veterans ■ 8% 1-2yr ■ 26% new
Entry-cohort mix of 38 holders: 25 (66%) are 2+ year veterans, 3 entered 1–2 years ago, and 10 (26%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 17% AUM from top-100

17% from top-100 AUM funds
7 of 31 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.0
out of 10
Low Exit Risk
Exit risk score 3.0/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

Methodology note: these Smart Money cards use consecutive 13F disclosure snapshots, not trade-by-trade execution data. "Buying", "selling", "new holders", and "trimmed" refer to quarter-over-quarter changes in reported holders, aggregate shares, or disclosed position values between filings. They are useful for ownership regime analysis and crowding, but they do not imply exact trade timing on the filing date.

Institutional Sentiment Summary — DFEN

In 2026 Q1, 19 hedge funds were net buyers of DFEN (8 opened a new position, 11 added to an existing one), while 21 reduced or exited (13 trimmed, 8 sold completely) — a 48% buyer ratio, indicating roughly balanced activity. Net fund flow last quarter: flat (entries and exits balanced). Total institutional holders: 32.

Hedge Fund Ownership: DFEN

How many hedge funds hold DFEN — quarterly history vs. share price
Quarterly hedge fund ownership of DFEN vs. share price

Market Analysis: DFEN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: DFEN

-- --

Institutional ownership data sourced from SEC EDGAR Form 13F-HR filings.

Is It Too Late to Buy Direxion Shares ETF Trust (DFEN) Based on Hedge Fund 13F Filings?

Signal Freshness measures how much DFEN has moved relative to its sector benchmark (SPY) since the 2026 Q1 13F filing. A stock that has barely outrun its sector is still a relatively fresh entry point — the fund's thesis has not yet been priced in by the broader market.

Since Quarter End March 31, 2026 · 78d ago
DFEN
+30.7%
SPY
+15.9%

DFEN outperformed SPY by +14.8% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 33d ago
DFEN
+25.4%
SPY
+2.0%

Since the filing became public, DFEN outperformed SPY by +23.4% .

Interpretation: The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.5
/ 10
conviction
Hedge Fund Positioning: DFEN
31 + Investors

Track Smart Money conviction in DFEN. See who's accumulating, reducing, or initiating positions.

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 31 32 -3.12%
13F Shares 914K 788K 15.97%
Total Value $55M $50M 10.04%
New Positions 8 7 +1
Increased Positions 10 10 -
Closed Positions 9 9 -
Reduced Positions 10 11 -1
Total Calls 4 4 -
Total Puts 3 3 -
PUT/CALL Ratio 0.75 0.75 Neutral

Statistics: DFEN

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Institutional Holders (2026 Q1)

31 + investors

Explore institutional interest and hedge fund ownership dynamics. Analyze portfolio weights, new positions, and conviction trends in DFEN. Verified SEC 13F-HR filings.

QUARTER:
Top 25 DFEN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Traynor Capital Management, Inc. 1.14% 342,983 $19.5M
2 Blue Sky Capital Consultants Group, Inc. 0.10% 3,239 $204K
3 TRUE Private Wealth Advisors 0.06% 9,469 $598K
4 Ascentis Independent Advisors 0.04% 8,767 $553K
5 Verus Capital Partners, LLC 0.04% 8,352 $527K
6 Tidemark, LLC 0.03% 1,994 $126K
7 Gts Securities LLC 0.02% 7,336 $463K
8 Burney Co/ 0.01% 6,668 $421K
9 Intentional Wealth Strategies, LLC 0.01% 178 $11K
10 Traynor Capital Management, Inc. 0.00% 1,000 $63K
11 SBI Securities Co., Ltd. 0.00% 1,959 $124K
12 Signature Resources Capital Management, LLC 0.00% 66 $4K
13 Spire Wealth Management 0.00% 513 $32K
14 Citadel Advisors LLC 0.00% 94,700 $6.0M
15 Hrt Financial LP 0.00% 5,855 $369K
16 Group One Trading LLC 0.00% 6,239 $394K
17 Susquehanna International Group, LLP 0.00% 94,000 $5.9M
18 Susquehanna International Group, LLP 0.00% 83,000 $5.2M
19 Citadel Advisors LLC 0.00% 57,300 $3.6M
20 Qube Research & Technologies Ltd 0.00% 8,190 $517K
21 Farther Finance Advisors, LLC 0.00% 638 $43K
22 IMC-Chicago, LLC 0.00% 17,006 $1.1M
23 Susquehanna International Group, LLP 0.00% 53,569 $3.4M
24 Jane Street Group, LLC 0.00% 40,000 $2.5M
25 Jane Street Group, LLC 0.00% 38,800 $2.4M
Investor Ownership
History 		% of Portfolio Prev % Rank Conviction Avg Buy Price 13F Score™ 3Y / 7Y Sell Timing Shares Mkt Value Change Change % Source Quarter Filed

Frequently Asked Questions — Direxion Shares ETF Trust (DFEN)

What does the Smart Money Trend signal show for DFEN?

No change last quarter: The number of hedge funds holding this stock didn't change last quarter. Neither a buying nor selling signal on its own — watch the next quarter for direction.

What is the institutional breadth score for DFEN?

More sellers than buyers — 48% buying: Last quarter: 21 funds reduced or exited vs 19 that bought or added. When more than half of active funds are selling, it's a caution flag — especially if the stock price hasn't moved down yet.

What is the fund quality score for DFEN holders?

Smaller funds dominant — 17% AUM from top-100: 7 of 31 holders rank in the top 100 by AUM, but together hold only 17% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held DFEN?

47% of holders stayed for 2+ years: 15 out of 32 hedge funds have held DFEN for over 2 years without selling. Long-term investors are generally harder to shake out during market stress, creating a stable ownership base that limits the risk of sudden capitulation.

Is it too late to buy Direxion Shares ETF Trust (DFEN) following the 2026 Q1 hedge fund 13F filings?

As of today, DFEN has moved +25.4% since the 2026 Q1 13F filing date (May 15, 2026), compared to +2.0% for the SPY sector ETF — an outperformance of +23.4%. Since the quarter end (March 31, 2026), DFEN has gained +30.7% vs +15.9% for SPY. The stock has meaningfully outrun its sector. The trade has partially played out; entry is at a premium to the fund's implied reference.

Where does this institutional ownership data come from?

All holdings data is sourced from SEC Form 13F filings, which institutional investment managers with over $100 million in assets are required to submit quarterly. Data is parsed directly from SEC EDGAR.

Disclaimer: The information on this page is for informational purposes only and does not constitute investment advice, a recommendation, or an offer to buy or sell any security. Institutional holdings data is sourced from SEC Form 13F filings and reflects positions as of the filing date. Past performance of any fund or portfolio is not indicative of future results. 13Foresight is not a registered investment adviser. Always conduct your own due diligence before making investment decisions.

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