Direxion Daily S&P 500 Bear 1X ETF
SPDN
New York Stock Exchange Arca- -
USD
- -
- -
Capital Structure
FRC
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in mil. unless spec.Working Capital
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in mil. unless spec.Growth Rates
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in mil. unless spec.Quarterly Revenue
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in mil. unless spec.Quarterly Earnings Per Share
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in mil. unless spec.Quarterly Dividends Per Share
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in mil. unless spec.- Sector
- Financial Services
- Industry
- Asset Management - Leveraged
- Address
- 1301 Avenue of the Americas New York City DE United States of America 10019
- IPO Date
- Jun 10, 2016
- CIK
- 0001424958
- Website
- direxion.com
- Similar Companies
- Business
- Direxion Daily S&P 500 Bear 1X Shares (SPDN) is an exchange-traded fund that seeks daily investment results, before fees and expenses, equal to 100% of the inverse (or opposite) of the performance of the S&P 500 Index; it employs short strategies using derivatives such as futures and swaps to achieve its objectives. Launched on June 8, 2016, and issued by Direxion Shares ETF Trust under the management of Rafferty Asset Management, LLC, the fund provides investors with a tactical trading tool for short-term bearish exposure to large-cap U.S. equities without the need for margin, options, or direct short selling. Direxion Investments, founded in 1997 and headquartered at 1301 Avenue of the Americas in New York, NY, with additional offices in the U.S. and Hong Kong, specializes in leveraged and inverse ETFs across equity indices, sectors, and single stocks. The fund's primary service targets sophisticated investors seeking to profit from or hedge against daily declines in the S&P 500 Index, a float-adjusted, market capitalization-weighted benchmark of 500 leading U.S. large-cap stocks selected for market value, financial viability, sector representation, liquidity, and share price; it operates primarily in the U.S. market with a gross expense ratio of 0.53% (net 0.47% through September 1, 2026, per operating expense limitation agreement). SPDN features regular quarterly distributions, including $0.13499 on July 1, 2025, $0.07929 on April 1, 2025, $0.13738 on December 31, 2024, and $0.14563 on October 1, 2024. In recent developments, Direxion has aggressively expanded its single-stock leveraged and inverse ETF lineup, launching new products in 2025 including pairs for Ford (July 22), Cisco and Qualcomm (June 25), Boeing and Exxon Mobil (April 23), Eli Lilly and Palo Alto Networks (March 26), and AMD (February 12); it also closed two ETFs, OOTO and CLDL (June 27, 2025), and appointed Mo Sparks as Chief Product Officer (April 1, 2025). These initiatives underscore Direxion's strategic focus on enhancing tactical trading options amid volatile markets, while maintaining SPDN's core inverse exposure to the S&P 500. The firm manages approximately $47 billion in assets as of December 31, 2024.