Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Direxion Shares ETF Trust (SPDN)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +3
Streak
2Q ▲
Buyers last Q
70%

Smart Money Signals — SPDN

Based on 51 hedge funds · latest filing: 2026 Q1 · updated quarterly

📈

Buying streak — 2 quarters in a row

last 6Q
For 2 consecutive quarters, more hedge funds added SPDN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
📊

High ownership — 82% of 3.0Y peak

82% of all-time peak
51 funds currently hold this stock — 82% of the 3.0-year high of 62 funds (reached 2025 Q1). Ownership is elevated but not yet at maximum concentration. Room to grow, but watch if the trend reverses.
📉

Outflows — 18% fewer funds vs a year ago

fund count last 6Q
11 fewer hedge funds hold SPDN compared to a year ago (-18% decline). When institutions consistently reduce their exposure, it's worth exploring the underlying fundamental reasons driving them away.
🟢

More buyers than sellers — 70% buying

39 buying17 selling
Last quarter: 39 funds were net buyers (10 opened a brand new position + 29 added to an existing one). Only 17 were sellers (10 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.
➡️

Steady new buyers — ~10 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 9 → 5 → 15 → 10. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

49% of holders stayed for 2+ years

■ 49% conviction (2yr+) ■ 24% medium ■ 27% new
25 out of 51 hedge funds have held SPDN 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.
➡️

Steady discovery — ~10 new funds/quarter

29 → 9 → 5 → 15 → 10 new funds/Q
New funds entering each quarter: 9 → 5 → 15 → 10. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Veteran-anchored — 62% veterans vs 28% newcomers

■ 62% veterans ■ 9% 1-2yr ■ 28% new
Entry-cohort mix of 53 holders: 33 (62%) are 2+ year veterans, 5 entered 1–2 years ago, and 15 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 14% AUM from top-100

14% from top-100 AUM funds
9 of 50 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
2.8
out of 10
Low Exit Risk
Exit risk score 2.8/10 — 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 — SPDN

In 2026 Q1, 39 hedge funds were net buyers of SPDN (10 opened a new position, 29 added to an existing one), while 17 reduced or exited (10 trimmed, 7 sold completely) — a 70% buyer ratio, indicating clear institutional accumulation. Net buying has persisted for two consecutive quarters, a positive momentum signal. Net fund flow last quarter: +3 funds (more new holders than closures). Total institutional holders: 51.

Hedge Fund Ownership: SPDN

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

Market Analysis: SPDN

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: SPDN

-- --

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

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

Signal Freshness measures how much SPDN 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 · 79d ago
SPDN
-11.5%
SPY
+13.9%

SPDN outperformed SPY by -25.4% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 34d ago
SPDN
+0.1%
SPY
+0.2%

Since the filing became public, SPDN outperformed SPY by -0.1% .

Interpretation: The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near the fund's implied reference. Learn more →

Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

2 top-rated funds 1 high-conviction
Consensus
2.1
/ 10
breadth
×
Elite
1.5
/ 10
conviction
Hedge Fund Positioning: SPDN
49 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 49 48 2.08%
13F Shares 13M 11M 19.27%
Total Value $126M $101M 25.29%
New Positions 9 15 -6
Increased Positions 27 17 +10
Closed Positions 8 9 -1
Reduced Positions 10 12 -2
Total Calls 1 0 100%
Total Puts 2 2 -
PUT/CALL Ratio 2.0 0.0 Bearish

Statistics: SPDN

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Valuation Measures Data as of: --

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Enterprise Value/EBITDA --
Beta (5Y Monthly) --
Short Ratio (Days to Cover) --
Short % of Float --

Financial Highlights

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Profit Margin --
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Institutional Holders (2026 Q1)

49 + investors

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

QUARTER:
Top 25 SPDN holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 One Plus One Wealth Management, LLC 5.89% 1,403,480 $14.0M
2 Rockport Wealth LLC 5.26% 2,904,522 $28.9M
3 Leuthold Group, LLC 3.26% 3,074,122 $30.6M
4 January Capital Advisors LLC 2.67% 198,739 $2.0M
5 Cushing Capital Partners, LLC 1.17% 152,745 $1.5M
6 Shepherd Kaplan Krochuk, LLC 1.13% 134,712 $1.3M
7 4wealth Advisors, INC. 0.71% 80,746 $826K
8 Allred Capital Management, LLC 0.67% 186,144 $1.9M
9 Fortis Advisors, LLC 0.51% 102,300 $1.0M
10 Maltin Wealth Management, Inc. 0.47% 124,238 $1.2M
11 Ascentis Independent Advisors 0.17% 223,814 $2.2M
12 Verus Capital Partners, LLC 0.10% 142,931 $1.4M
13 Harmony Asset Management LLC 0.08% 26,707 $266K
14 Moors & Cabot, Inc. 0.07% 166,681 $1.7M
15 Axxcess Wealth Management, LLC 0.07% 219,645 $2.2M
16 Two Sigma Securities, LLC 0.07% 58,188 $579K
17 Bay Colony Advisory Group, Inc d/b/a Bay Colony Advisors 0.06% 49,210 $490K
18 Galvin, Gaustad & Stein, LLC 0.04% 47,931 $477K
19 Strait & Sound Wealth Management LLC 0.04% 10,000 $100K
20 Lifeworks Advisors, LLC 0.03% 24,469 $243K
21 Resonant Capital Advisors, LLC 0.03% 51,477 $512K
22 XTX Topco Ltd 0.03% 146,799 $1.5M
23 Choreo, LLC 0.02% 154,512 $1.5M
24 Aspiriant, LLC 0.01% 29,790 $296K
25 Belpointe Asset Management LLC 0.01% 20,110 $200K
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 (SPDN)

What does the Smart Money Trend signal show for SPDN?

Buying streak — 2 quarters in a row: For 2 consecutive quarters, more hedge funds added SPDN than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for SPDN?

More buyers than sellers — 70% buying: Last quarter: 39 funds were net buyers (10 opened a brand new position + 29 added to an existing one). Only 17 were sellers (10 trimmed + 7 sold completely). A clear majority buying is a strong confirmation signal.

What is the fund quality score for SPDN holders?

Smaller funds dominant — 14% AUM from top-100: 9 of 50 holders rank in the top 100 by AUM, but together hold only 14% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held SPDN?

49% of holders stayed for 2+ years: 25 out of 51 hedge funds have held SPDN 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 (SPDN) following the 2026 Q1 hedge fund 13F filings?

As of today, SPDN has moved +0.1% since the 2026 Q1 13F filing date (May 15, 2026), compared to +0.2% for the SPY sector ETF — an outperformance of -0.1%. Since the quarter end (March 31, 2026), SPDN has gained -11.5% vs +13.9% for SPY. The stock is tracking its sector benchmark closely. The signal remains fresh and the entry point is still near 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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