Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Direxion Shares ETF Trust (JNUG)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -4
Streak
1Q ▼
Buyers last Q
43%

Smart Money Signals — JNUG

Based on 29 hedge funds · latest filing: 2026 Q1 · updated quarterly

📉

Selling streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds reduced or closed their JNUG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.
📊

High ownership — 81% of 3.0Y peak

81% of all-time peak
29 funds currently hold this stock — 81% of the 3.0-year high of 36 funds (reached 2024 Q3). 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 JNUG 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 — 43% buying

15 buying20 selling
Last quarter: 20 funds reduced or exited vs 15 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 — ~5 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 7 → 10 → 7 → 5. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

52% of holders stayed for 2+ years

■ 52% conviction (2yr+) ■ 17% medium ■ 31% new
15 out of 29 hedge funds have held JNUG 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

12 → 7 → 10 → 7 → 5 new funds/Q
New funds entering each quarter: 7 → 10 → 7 → 5. JNUG 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 — 64% veterans vs 28% newcomers

■ 64% veterans ■ 8% 1-2yr ■ 28% new
Entry-cohort mix of 36 holders: 23 (64%) are 2+ year veterans, 3 entered 1–2 years ago, and 10 (28%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
🏆

Elite ownership — 44% AUM from top-100 funds

44% from top-100 AUM funds
6 of 28 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in JNUG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.
3.2
out of 10
Low Exit Risk
Exit risk score 3.2/10 — 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 — JNUG

In 2026 Q1, 15 hedge funds were net buyers of JNUG (5 opened a new position, 10 added to an existing one), while 20 reduced or exited (11 trimmed, 9 sold completely) — a 43% buyer ratio, indicating roughly balanced activity. 44% of total institutional value in JNUG is held by top-100 AUM funds, reflecting elite-tier ownership quality. Net fund flow last quarter: -4 funds (more exits than new entries). Total institutional holders: 29.

Hedge Fund Ownership: JNUG

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

Market Analysis: JNUG

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: JNUG

-- --

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

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

Signal Freshness measures how much JNUG 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 · 86d ago
JNUG
-41.7%
SPY
+13.0%

JNUG outperformed SPY by -54.7% since March 31, 2026.

Since 13F Filing Date May 15, 2026 · 41d ago
JNUG
-45.6%
SPY
-0.5%

Since the filing became public, JNUG outperformed SPY by -45.1% .

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.

3 top-rated funds 0 high-conviction
Consensus
2.6
/ 10
breadth
×
Elite
0.1
/ 10
conviction
Hedge Fund Positioning: JNUG
29 + Investors

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

Metric All 13F Filers (2026 Q1) Prior (2025 Q4) Change
Funds Holding 29 33 -12.12%
13F Shares 1M 1M -10.19%
Total Value $220M $253M -13.16%
New Positions 5 7 -2
Increased Positions 8 8 -
Closed Positions 9 5 +4
Reduced Positions 10 15 -5
Total Calls 5 4 25.0%
Total Puts 3 4 -25.0%
PUT/CALL Ratio 0.6 1.0 Bullish

Statistics: JNUG

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Short % of Float --

Financial Highlights

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Institutional Holders (2026 Q1)

29 + investors

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

QUARTER:
Top 25 JNUG holders by conviction (% of portfolio weight) — 2026 Q1 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Entrewealth, LLC 0.13% 1,426 $284K
2 Two Sigma Securities, LLC 0.10% 4,297 $856K
3 Gts Securities LLC 0.08% 11,277 $2.2M
4 Rachor Investment Advisory Services, LLC 0.07% 665 $132K
5 SBI Securities Co., Ltd. 0.03% 5,753 $1.1M
6 Visionary Wealth Advisors 0.03% 3,230 $643K
7 Tower Research Capital LLC (TRC) 0.01% 2,325 $463K
8 Susquehanna International Group, LLP 0.01% 345,400 $68.8M
9 Citadel Advisors LLC 0.01% 217,300 $43.3M
10 Jump Financial, LLC 0.01% 2,486 $495K
11 Jane Street Group, LLC 0.01% 211,000 $42.0M
12 Global Wealth Strategies & Associates 0.00% 100 $20K
13 Caitlin John, LLC 0.00% 40 $8K
14 Hrt Financial LP 0.00% 8,994 $1.8M
15 XTX Topco Ltd 0.00% 1,143 $228K
16 Susquehanna International Group, LLP 0.00% 107,400 $21.4M
17 Walleye Trading LLC 0.00% 5,600 $1.1M
18 Larson Financial Group LLC 0.00% 287 $57K
19 IMC-Chicago, LLC 0.00% 20,530 $4.1M
20 Citadel Advisors LLC 0.00% 42,300 $8.4M
21 Belvedere Trading LLC 0.00% 5,537 $1.1M
22 Jane Street Group, LLC 0.00% 47,900 $9.5M
23 Root Financial Partners, LLC 0.00% 105 $21K
24 Jane Street Group, LLC 0.00% 33,796 $6.7M
25 Nbc Securities, INC. 0.00% 40 $8K
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 (JNUG)

What does the Smart Money Trend signal show for JNUG?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their JNUG positions than added to them. Sustained institutional selling is a meaningful warning sign — these are professionals with deep research teams collectively deciding to exit.

What is the institutional breadth score for JNUG?

More sellers than buyers — 43% buying: Last quarter: 20 funds reduced or exited vs 15 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 JNUG holders?

Elite ownership — 44% AUM from top-100 funds: 6 of 28 holders are among the 100 largest funds by AUM, controlling 44% of total institutional value in JNUG. When the biggest players dominate the cap table, it signifies deep institutional support — since mega-funds deploy the most rigorous due diligence and capital.

How long have hedge funds held JNUG?

52% of holders stayed for 2+ years: 15 out of 29 hedge funds have held JNUG 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 (JNUG) following the 2026 Q1 hedge fund 13F filings?

As of today, JNUG has moved -45.6% since the 2026 Q1 13F filing date (May 15, 2026), compared to -0.5% for the SPY sector ETF — an outperformance of -45.1%. Since the quarter end (March 31, 2026), JNUG has gained -41.7% vs +13.0% 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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