Direxion Daily S&P Biotech Bear 3X Shares

LABD • ARCA

Direxion Daily S&P Biotech Bear 3X Shares is an exchange-traded fund on ARCA. As of Q3 2025, 18 institutional investors hold shares in this ETF, with total holdings valued at $16.6M. BNP PARIBAS ARBITRAGE, SA is the largest holder with a position valued at $5.1M.

Overview

Overview of institutional ownership in LABD as of Q3 2025

All Institutions

Institutions: 18
Value Held: $16.6M
Shares Held: 411.8K
Avg Position: $923.8K
Median Position: $437.1K

Hedge Funds

Hedge Funds: 2
Value Held: $4.0M
Shares Held: 99.1K
Avg Position: $2.0M
Median Position: $2.0M

Biggest Investors

Institutions with the largest positions in LABD as of Q3 2025

Institution	Key People	Position Value	Ownership	Owned Since	Total AUM (Long)
B BNP PARIBAS ARBITRAGE, SA Institution	-	$5.1M 0.00% of portfolio	125.8K shares	Q3 2025 Held for 2 months	$126.06B
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	$3.7M 0.75% of portfolio	92.0K shares	Q3 2025 Held for 2 months	$494.3M
J JANE STREET GROUP, LLC Institution	-	$1.3M 0.00% of portfolio	31.5K shares	Q2 2015 Held for 10y 5m	$84.1B
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	-	$1.3M 0.00% of portfolio	31.1K shares	Q3 2015 Held for 10y 2m	$67.9B
Q Qube Research & Technologies Ltd Institution	-	$983.1K 0.00% of portfolio	24.3K shares	Q3 2025 Held for 2 months	$70.6B
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	$892.5K 0.02% of portfolio	22.1K shares	Q3 2025 Held for 2 months	$3.8B
T Tower Research Capital LLC Institution	-	$721.9K 0.02% of portfolio	17.9K shares	Q3 2016 Held for 9y 2m	$3.6B
V Virtu Financial LLC Institution	-	$640.4K 0.04% of portfolio	15.8K shares	Q4 2020 Held for 4y 11m	$1.6B
T TWO SIGMA SECURITIES, LLC Institution	-	$583.8K 0.09% of portfolio	14.4K shares	Q3 2025 Held for 2 months	$675.6M
Scientech Research LLC Hedge Fund•Market Neutral	Rui Wei Managing Partner	$290.4K 0.10% of portfolio	7.2K shares	Q3 2025 Held for 2 months	$283.5M

Net Capital Flow

Institutional buying and selling activity for LABD in Q3 2025

Traded: +$10.0M
Buyers: 15
Sellers: 10
Total Bought: +$13.8M
Total Sold: −$3.8M
Avg Position: $665.1K

Biggest Buyers

Institution	Net Bought	Current Position
B BNP PARIBAS ARBITRAGE, SA Institution	+$5.1M +125.8K shares	$5.1M 125.8K shares
Ikarian Capital, LLC Hedge Fund•Event Driven	+$3.7M +92.0K shares	$3.7M 92.0K shares
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	+$1.0M +25.7K shares	$1.3M 31.1K shares
Q Qube Research & Technologies Ltd Institution	+$983.1K +24.3K shares	$983.1K 24.3K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	+$892.5K +22.1K shares	$892.5K 22.1K shares
T TWO SIGMA SECURITIES, LLC Institution	+$583.8K +14.4K shares	$583.8K 14.4K shares
T Tower Research Capital LLC Institution	+$555.3K +13.7K shares	$721.9K 17.9K shares
Scientech Research LLC Hedge Fund•Market Neutral	+$290.4K +7.2K shares	$290.4K 7.2K shares
JPMORGAN CHASE & CO Institution	+$271.5K +6.7K shares	$275.1K 6.8K shares
Csenge Advisory Group RIA/Wealth	+$270.9K +6.7K shares	$270.9K 6.7K shares

Biggest Sellers

Institution	Net Sold	Current Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	−$1.6M −21.2K shares	Sold Off 0 shares
J Jump Financial, LLC Institution	−$1.3M −17.4K shares	Sold Off 0 shares
V Virtu Financial LLC Institution	−$410.7K −10.2K shares	$640.4K 15.8K shares
G GTS SECURITIES LLC Institution	−$152.1K −2.0K shares	Sold Off 0 shares
J JANE STREET GROUP, LLC Institution	−$90.7K −2.2K shares	$1.3M 31.5K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	−$84.3K −1.1K shares	Sold Off 0 shares
Steadtrust LLC RIA/Wealth	−$74.8K −1.0K shares	Sold Off 0 shares
G GROUP ONE TRADING, L.P. Institution	−$53.0K −1.3K shares	$129.2K 3.2K shares
BANK OF AMERICA CORP /DE/ Institution	−$23.2K −310.0 shares	Sold Off 0 shares
A Advisor Group Holdings, Inc. Institution	−$2.1K −27.5 shares	Sold Off 0 shares

Entry and Exit Activity

Institutions that initiated new positions or completely exited LABD in Q3 2025

New Positions: 4
New Value: $9.9M
Exited Positions: 7
Exited Value: $3.2M

New Positions

Institution	Position Value
B BNP PARIBAS ARBITRAGE, SA Institution	$5.1M 125.8K shares
Ikarian Capital, LLC Hedge Fund•Event Driven	$3.7M 92.0K shares
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	$892.5K 22.1K shares
Csenge Advisory Group RIA/Wealth	$270.9K 6.7K shares

Exited Positions

Institution	Previous Position
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$1.6M 21.2K shares
J Jump Financial, LLC Institution	$1.3M 17.4K shares
G GTS SECURITIES LLC Institution	$152.1K 2.0K shares
ENVESTNET ASSET MANAGEMENT INC Long Only Manager	$84.3K 1.1K shares
Steadtrust LLC RIA/Wealth	$74.8K 1.0K shares
BANK OF AMERICA CORP /DE/ Institution	$23.2K 310.0 shares
A Advisor Group Holdings, Inc. Institution	$2.1K 27.5 shares

Options Activity

Institutions with the largest Call and Put options positions in LABD as of Q3 2025

Call Positions: 4
Call Value: $58.6M
Put Positions: 3
Put Value: $3.5M

Call Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$56.9M 14.1K contracts
W WOLVERINE TRADING, LLC Institution	$871.1K 210.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$854.5K 211.3 contracts
J JANE STREET GROUP, LLC Institution	- - contracts

Put Positions

Institution	Position Value
SUSQUEHANNA INTERNATIONAL GROUP, LLP Private Equity	$2.5M 623.0 contracts
CITADEL ADVISORS LLC Hedge Fund•Multi-Strategy	$640.6K 158.4 contracts
W WOLVERINE TRADING, LLC Institution	$344.3K 83.0 contracts

Most Committed Institutions

Institutions with LABD as the highest % of their portfolio as of Q3 2025

Institution	Key People	Portfolio Weight	Ownership	Owned Since	Total AUM (Long)
Ikarian Capital, LLC Hedge Fund•Event Driven	Neil Tristan Shahrestani CEO	0.75% $3.7M	92.0K shares	Q3 2025 Held for 2 months	$494.3M
P PayPay Securities Corp Institution	-	0.47% $13.1K	324.0 shares	Q1 2023 Held for 2y 8m	$2.8M
Scientech Research LLC Hedge Fund•Market Neutral	Rui Wei Managing Partner	0.10% $290.4K	7.2K shares	Q3 2025 Held for 2 months	$283.5M
T TWO SIGMA SECURITIES, LLC Institution	-	0.09% $583.8K	14.4K shares	Q3 2025 Held for 2 months	$675.6M
V Virtu Financial LLC Institution	-	0.04% $640.4K	15.8K shares	Q4 2020 Held for 4y 11m	$1.6B
BOOTHBAY FUND MANAGEMENT, LLC Fund of Funds	Ari Louis Glass Managing Partner	0.02% $892.5K	22.1K shares	Q3 2025 Held for 2 months	$3.8B
T Tower Research Capital LLC Institution	-	0.02% $721.9K	17.9K shares	Q3 2016 Held for 9y 2m	$3.6B
Csenge Advisory Group RIA/Wealth	John Louis Csenge President	0.01% $270.9K	6.7K shares	Q3 2025 Held for 2 months	$2.1B
B BNP PARIBAS ARBITRAGE, SA Institution	-	0.00% $5.1M	125.8K shares	Q3 2025 Held for 2 months	$126.06B
G GROUP ONE TRADING, L.P. Institution	-	0.00% $129.2K	3.2K shares	Q2 2025 Held for 5 months	$3.3B

Hedge Fund Spotlight

Discover hedge funds investing in LABD

Scientech Research LLC

Hedge Fund • Market Neutral

Portfolio ManagerRui Wei

Portfolio Value: $283.5M
Positions: 542
Last Reported: Q3 2025

Sector Allocation

Position in Direxion Daily S&P Biotech Bear 3X Shares

Market Value: $290.4K
Shares Held: 7.2K
Portfolio Weight: 0.10%
Owned Since: 2025-Q3

Top Holding	Sector	Market Value	Weight
1 Microsoft MSFT	Software - Infrastructure Technology	$2.2M	0.77%
2 Nvidia NVDA	Semiconductors Technology	$2.0M	0.70%
3 Applovin Corporation APP	Software - Application Technology	$2.0M	0.69%