DTF Tax-Free Income 2028 Term Fund
26 hedge funds and large institutions have $34.3M invested in DTF Tax-Free Income 2028 Term Fund in 2023 Q4 according to their latest regulatory filings, with 5 funds opening new positions, 9 increasing their positions, 5 reducing their positions, and 9 closing their positions.
80% more repeat investments, than reductions
Existing positions increased: 9 | Existing positions reduced: 5
6% more capital invested
Capital invested by funds: $32.4M → $34.3M (+$1.94M)
2.25% more ownership
Funds ownership: 43.16% → 45.41% (+2.2%)
16% less funds holding
Funds holding: 31 → 26 (-5)
44% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 9
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
RVPG
Relative Value Partners Group
|
+$4.34M |
| 2 |
AC
Almitas Capital
Santa Monica,
California
|
+$3.5M |
| 3 |
Morgan Stanley
New York
|
+$1.22M |
| 4 |
LSC
Logan Stone Capital
Chicago,
Illinois
|
+$474K |
| 5 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$403K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
KIM
Karpus Investment Management
Pittsford,
New York
|
-$6.82M |
| 2 |
AW
Atlas Wealth
Cincinnati,
Ohio
|
-$3.48M |
| 3 |
PNC Financial Services Group
Pittsburgh,
Pennsylvania
|
-$341K |
| 4 |
TJHA
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
|
-$317K |
| 5 |
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
|
-$281K |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
|
WAM
26
Wolverine Asset Management
Chicago,
Illinois
| $3.23K | +$3.21K | +300 | New |
|
|
KIM
27
Karpus Investment Management
Pittsford,
New York
| – | -$6.82M | -638,815 | Closed |
|
|
AW
28
Atlas Wealth
Cincinnati,
Ohio
| – | -$3.48M | -325,914 | Closed |
|
|
29
PNC Financial Services Group
Pittsburgh,
Pennsylvania
| – | -$341K | -31,952 | Closed |
|
|
TJHA
30
Thomas J. Herzfeld Advisors
Miami Beach,
Florida
| – | -$317K | -29,723 | Closed |
|
|
31
Susquehanna International Group
Bala Cynwyd,
Pennsylvania
| – | -$281K | -26,297 | Closed |
|
|
DWM
32
Dakota Wealth Management
Palm Beach Gardens,
Florida
| – | -$198K | -18,583 | Closed |
|
33
First Trust Advisors
Wheaton,
Illinois
| – | -$126K | -11,806 | Closed |
|
|
CSPIA
34
Cary Street Partners Investment Advisory
Richmond,
Virginia
| – | -$21.3K | -2,000 | Closed |
|
|
GWSG
35
GPS Wealth Strategies Group
Centennial,
Colorado
| – | -$3.54K | -332 | Closed |
|
DTF Hedge Fund Activity: Q4 2023 in Review
26 of the 6,859 institutional investors tracked by Wall St. Rank reported a position in DTF Tax-Free Income 2028 Term Fund (DTF) for Q4 2023, worth a combined $34.3M — up 6% from $32.4M a quarter earlier.
Sellers outnumbered buyers: 9 funds closed out of DTF and 5 opened new positions — a net loss of 4 holders — while 5 trimmed existing stakes and 9 added.
The largest buyer was Relative Value Partners Group, adding an estimated $4.34M. The largest seller was Karpus Investment Management, exiting entirely with an estimated $6.82M sold.
- 26 institutional investors held DTF Tax-Free Income 2028 Term Fund (DTF) as of Q4 2023, down from 31 in Q3 2023.
- Funds reported $34.3M of DTF Tax-Free Income 2028 Term Fund stock for Q4 2023, up 6% quarter-over-quarter.
- 5 funds opened new DTF Tax-Free Income 2028 Term Fund positions in Q4 2023 and 9 closed out, a net change of -4 holders.
- The largest DTF Tax-Free Income 2028 Term Fund buyer in Q4 2023 was Relative Value Partners Group, an estimated $4.34M added.
- The largest DTF Tax-Free Income 2028 Term Fund seller in Q4 2023 was Karpus Investment Management, an estimated $6.82M sold.
Based on aggregated 13F filings for Q4 2023.