DTF Tax-Free Income 2028 Term Fund
33 hedge funds and large institutions have $42.8M invested in DTF Tax-Free Income 2028 Term Fund in 2019 Q2 according to their latest regulatory filings, with 6 funds opening new positions, 6 increasing their positions, 12 reducing their positions, and 2 closing their positions.
200% more first-time investments, than exits
New positions opened: 6 | Existing positions closed: 2
16% more capital invested
Capital invested by funds: $37M → $42.8M (+$5.74M)
14% more funds holding
Funds holding: 29 → 33 (+4)
6.01% more ownership
Funds ownership: 32.83% → 38.85% (+6%)
50% less repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 12
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
SCM
Saba Capital Management
New York
|
+$7.54M |
| 2 |
EVM
Eaton Vance Management
Boston,
Massachusetts
|
+$4.22M |
| 3 |
RCM
Rivernorth Capital Management
West Palm Beach,
Florida
|
+$3M |
| 4 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$951K |
| 5 |
COLIM
City of London Investment Management
London,
United Kingdom
|
+$333K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
-$3.29M |
| 2 |
Wells Fargo
San Francisco,
California
|
-$1.96M |
| 3 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
-$1.82M |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$774K |
| 5 |
Bank of America
Charlotte,
North Carolina
|
-$666K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
WAM
26
Wolverine Asset Management
Chicago,
Illinois
| $123K | -$774K | -56,596 | -86% |
|
27
UBS Group
Zurich,
Switzerland
| $75K | +$7.43K | +544 | +11% |
|
|
28
Bank of America
Charlotte,
North Carolina
| $17K | -$666K | -48,710 | -98% |
|
29
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| $11K | – | – | – |
|
|
PWMG
30
Prestige Wealth Management Group
Flemington,
New Jersey
| $6K | – | – | – |
|
|
LTFS
31
Ladenburg Thalmann Financial Services
Miami,
Florida
| $5K | – | – | – |
|
32
Deutsche Bank
Frankfurt Am Main Ge,
Germany
| $5K | +$5.25K | +384 | New |
|
|
RCM
33
Rivernorth Capital Management
West Palm Beach,
Florida
| $3.03K | +$3M | +219,201 | New |
|
|
BI
34
Bulldog Investors
Saddle Brook,
New Jersey
| – | -$1.82M | -137,755 | Closed |
|
|
SWM
35
SeaCrest Wealth Management
Purchase,
New York
| – | -$20K | -1,535 | Closed |
|
DTF Hedge Fund Activity: Q2 2019 in Review
33 of the 4,604 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q2 2019, worth a combined $42.8M — up 16% from $37M a quarter earlier.
Buyers outnumbered sellers: 6 funds opened new DTF positions and 2 closed out — a net gain of 4 holders — while 6 added to existing stakes and 12 trimmed.
The largest buyer was Saba Capital Management, adding an estimated $7.54M. The largest seller was Fiera Capital (Canada), cutting an estimated $3.29M.
- 33 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q2 2019, up from 29 in Q1 2019.
- Funds reported $42.8M of DTF Tax-Free Income 2028 Term Fund stock for Q2 2019, up 16% quarter-over-quarter.
- 6 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q2 2019 and 2 closed out, a net change of +4 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q2 2019 was Saba Capital Management, an estimated $7.54M added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q2 2019 was Fiera Capital (Canada), an estimated $3.29M sold.
Based on aggregated 13F filings for Q2 2019.