DTF Tax-Free Income 2028 Term Fund
30 hedge funds and large institutions have $48.1M invested in DTF Tax-Free Income 2028 Term Fund in 2019 Q3 according to their latest regulatory filings, with 2 funds opening new positions, 12 increasing their positions, 7 reducing their positions, and 5 closing their positions.
71% more repeat investments, than reductions
Existing positions increased: 12 | Existing positions reduced: 7
12% more capital invested
Capital invested by funds: $42.8M → $48.1M (+$5.29M)
2.96% more ownership
Funds ownership: 38.85% → 41.8% (+3%)
9% less funds holding
Funds holding: 33 → 30 (-3)
60% less first-time investments, than exits
New positions opened: 2 | Existing positions closed: 5
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
+$3.82M |
| 2 |
BI
Bulldog Investors
Saddle Brook,
New Jersey
|
+$3.37M |
| 3 |
RJA
Raymond James & Associates
St Petersburg,
Florida
|
+$837K |
| 4 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
+$435K |
| 5 |
SIA
Sit Investment Associates
Minneapolis,
Minnesota
|
+$354K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
Wells Fargo
San Francisco,
California
|
-$5.44M |
| 2 |
Geode Capital Management
Boston,
Massachusetts
|
-$236K |
| 3 |
Fiera Capital (Canada)
Montreal,
Quebec, Canada
|
-$195K |
| 4 |
WAM
Wolverine Asset Management
Chicago,
Illinois
|
-$123K |
| 5 |
UBS Group
Zurich,
Switzerland
|
-$75K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
26
Bank of America
Charlotte,
North Carolina
| $17K | – | – | – |
|
27
Carson Wealth (CWM LLC)
Omaha,
Nebraska
| $11K | – | – | – |
|
|
LTFS
28
Ladenburg Thalmann Financial Services
Miami,
Florida
| $6K | – | – | – |
|
|
PWMG
29
Prestige Wealth Management Group
Flemington,
New Jersey
| $6K | – | – | – |
|
|
RCM
30
Rivernorth Capital Management
West Palm Beach,
Florida
| $3.47K | +$292K | +20,785 | +9% |
|
|
31
Geode Capital Management
Boston,
Massachusetts
| – | -$236K | -17,117 | Closed |
|
|
32
Fiera Capital (Canada)
Montreal,
Quebec, Canada
| – | -$195K | -14,054 | Closed |
|
|
WAM
33
Wolverine Asset Management
Chicago,
Illinois
| – | -$123K | -8,891 | Closed |
|
|
34
UBS Group
Zurich,
Switzerland
| – | -$75K | -5,408 | Closed |
|
35
Deutsche Bank
Frankfurt Am Main Ge,
Germany
| – | -$5K | -384 | Closed |
|
DTF Hedge Fund Activity: Q3 2019 in Review
30 of the 4,560 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q3 2019, worth a combined $48.1M — up 12% from $42.8M a quarter earlier.
Sellers outnumbered buyers: 5 funds closed out of DTF and 2 opened new positions — a net loss of 3 holders — while 7 trimmed existing stakes and 12 added.
The largest buyer was Karpus Investment Management, adding an estimated $3.82M. The largest seller was Wells Fargo, cutting an estimated $5.44M.
- 30 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q3 2019, down from 33 in Q2 2019.
- Funds reported $48.1M of DTF Tax-Free Income 2028 Term Fund stock for Q3 2019, up 12% quarter-over-quarter.
- 2 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q3 2019 and 5 closed out, a net change of -3 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q3 2019 was Karpus Investment Management, an estimated $3.82M added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q3 2019 was Wells Fargo, an estimated $5.44M sold.
Based on aggregated 13F filings for Q3 2019.