Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

Dtf Tax-Free Income 2028 Ter (DTF)

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

Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↓ -1
Streak
1Q ▼
Buyers last Q
41%

Smart Money Signals — DTF

Based on 30 hedge funds · latest filing: 2026 Q2 · updated quarterly

📉

Selling streak — 1 quarter in a row

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

At the ownership peak (97% of max)

97% of all-time peak
30 hedge funds hold DTF right now — the highest count in 3.0 years. When ownership is this concentrated, any bad news can trigger a chain reaction: one big fund sells, others follow. This is a classic 'crowded trade' — high popularity doesn't equal safety.
📶

Steady growth — +15% more funds vs a year ago

fund count last 6Q
+4 new funds entered over the past year (+15% YoY). Gradual, steady growth in institutional ownership is generally a healthy signal — not a speculative rush, but consistent conviction. The peak was reached in just 2 quarters from the low — a sharp move.
🟠

More sellers than buyers — 41% buying

9 buying13 selling
Last quarter: 13 funds reduced or exited vs 9 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 — ~3 new funds per quarter

new funds entering per quarter
Funds opening this position for the first time: 3 → 9 → 4 → 3. A stable flow of new institutional buyers suggests ongoing interest without signs of either acceleration or slowdown.
🔒

60% of holders stayed for 2+ years

■ 60% conviction (2yr+) ■ 20% medium ■ 20% new
18 out of 30 hedge funds have held DTF 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.
⚠️

Saturation — most institutions already know this story

4 → 3 → 9 → 4 → 3 new funds/Q
New funds entering each quarter: 3 → 9 → 4 → 3. Far fewer institutions are entering now vs. a year ago. When the pool of potential new buyers shrinks this fast, future price support from institutional inflows weakens significantly.
🏛️

Veteran-anchored — 60% veterans vs 20% newcomers

■ 60% veterans ■ 20% 1-2yr ■ 20% new
Entry-cohort mix of 30 holders: 18 (60%) are 2+ year veterans, 6 entered 1–2 years ago, and 6 (20%) joined within the past year. A veteran-weighted cap table skews toward institutional memory over fresh momentum.
📋

Smaller funds dominant — 8% AUM from top-100

8% from top-100 AUM funds
5 of 30 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
4.0
out of 10
Moderate Exit Risk
Exit risk score 4.0/10 — some crowding factors present, but no critical concentration. Watch ownership trend over the next 1–2 quarters for direction.

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 — DTF

In 2026 Q2, 9 hedge funds were net buyers of DTF (3 opened a new position, 6 added to an existing one), while 13 reduced or exited (9 trimmed, 4 sold completely) — a 41% buyer ratio, indicating roughly balanced activity. Net fund flow last quarter: -1 funds (more exits than new entries). Total institutional holders: 30.

Hedge Fund Ownership: DTF

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

Market Analysis: DTF

Analyst Price Targets

Avg. Price Target
--

Analyst Recommendations

Stock Performance

Real-time

Company Profile: DTF

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

Loading signal freshness…
Smart Money Signal ?
Limited Smart Money Interest

No strong consensus or elite conviction detected among institutional holders.

1 top-rated funds 0 high-conviction
Consensus
1.3
/ 10
breadth
×
Elite
0.7
/ 10
conviction
Hedge Fund Positioning: DTF
30 + Investors

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

Metric All 13F Filers (2026 Q2) Prior (2026 Q1) Change
Funds Holding 30 31 -3.23%
13F Shares 3M 3M 6.14%
Total Value $23M $23M -0.57%
New Positions 3 4 -1
Increased Positions 6 12 -6
Closed Positions 4 4 -
Reduced Positions 9 3 +6
Total Calls 0 0 -
Total Puts 0 0 -
PUT/CALL Ratio 0.0 0.0 Bullish

Statistics: DTF

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Institutional Holders (2026 Q2)

30 + investors

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

QUARTER:
Top 25 DTF holders by conviction (% of portfolio weight) — 2026 Q2 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Hara Capital LLC 1.87% 307,689 $3.6M
2 Almitas Capital LLC 0.98% 355,089 $4.1M
3 Beverly Hills Private Wealth, LLC 0.74% 335,921 $3.9M
4 Avise Financial Cooperative, Inc. 0.38% 46,934 $542K
5 Thomas J. Herzfeld Advisors, Inc. 0.23% 65,258 $754K
6 Closed-End Fund Advisors, Inc. 0.18% 15,976 $185K
7 Corps Capital Advisors, LLC 0.18% 19,000 $219K
8 Basepoint Wealth LLC 0.13% 19,472 $225K
9 Melfa Wealth Management, INC. 0.07% 10,939 $126K
10 1607 Capital Partners, LLC 0.06% 64,091 $740K
11 City of London Investment Management Co Ltd 0.05% 71,012 $820K
12 49 Wealth Management, LLC 0.05% 22,315 $258K
13 Karpus Management, Inc. 0.01% 19,211 $222K
14 Financial Gravity Companies, Inc. 0.01% 3,232 $37K
15 Centennial Bank/AR/ 0.01% 1,500 $17K
16 Focus Partners Wealth 0.01% 425,402 $4.9M
17 Savvy Advisors, Inc. 0.00% 14,545 $168K
18 Pinnacle Wealth Planning Services, Inc. 0.00% 1,250 $14K
19 Prestige Wealth Management Group LLC 0.00% 400 $5K
20 Sanctuary Advisors, LLC 0.00% 10,000 $116K
21 Corient Private Wealth LP 0.00% 17,541 $203K
22 LPL Financial LLC 0.00% 61,895 $715K
23 Morgan Stanley 0.00% 79,776 $921K
24 Osaic Holdings, INC. 0.00% 1,626 $19K
25 Citadel Advisors LLC 0.00% 13,404 $155K
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 — Dtf Tax-Free Income 2028 Ter (DTF)

What does the Smart Money Trend signal show for DTF?

Selling streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds reduced or closed their DTF 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 DTF?

More sellers than buyers — 41% buying: Last quarter: 13 funds reduced or exited vs 9 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 DTF holders?

Smaller funds dominant — 8% AUM from top-100: 5 of 30 holders rank in the top 100 by AUM, but together hold only 8% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held DTF?

60% of holders stayed for 2+ years: 18 out of 30 hedge funds have held DTF 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.

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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