Stock Analysis
Data Source: SEC EDGAR 13F
Updated Hourly

DTF TAX-FREE INCOME 2028 TER (DTF)

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

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Current Price
-- USD
Analyst Target
-- (0 analysts)
Upside
0.00%
Net Flow Q/Q
↑ +5
Streak
1Q ▲
Buyers last Q
58%

Smart Money Signals — DTF

Based on 31 hedge funds · latest filing: 2025 Q4 · updated quarterly

📈

Buying streak — 1 quarter in a row

last 6Q
For 1 consecutive quarter, more hedge funds added DTF than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.
🏔️

At the ownership peak (100% of max)

100% of all-time peak
31 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 — +7% more funds vs a year ago

fund count last 6Q
+2 new funds entered over the past year (+7% 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.
🟡

Slight buying edge — 58% buying

14 buying10 selling
Last quarter: 14 funds bought or added vs 10 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.
📈

More new buyers each quarter (+6 vs last Q)

new funds entering per quarter
Funds opening a new DTF position: 3 → 4 → 3 → 9. A growing influx of new institutional buyers means the asset is still gathering momentum — the consensus hasn't fully saturated yet.
🔒

55% of holders stayed for 2+ years

55% conviction (2yr+) 23% medium 23% new
17 out of 31 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.
➡️

Steady discovery — ~9 new funds/quarter

5 → 3 → 4 → 3 → 9 new funds/Q
New funds entering each quarter: 3 → 4 → 3 → 9. Consistent flow of new institutional buyers without clear acceleration or slowdown.
🏛️

Deep conviction — 55% of holders stayed 2+ years

55% veterans 16% 1-2yr 29% new
Of 31 current holders: 17 (55%) have held for over 2 years without selling. These are not momentum buyers — they have lived through drawdowns and stayed. A large veteran base acts as a stabilizing force during selloffs.
📋

Smaller funds dominant — 3% AUM from top-100

3% from top-100 AUM funds
4 of 31 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.
3.7
out of 10
Low Exit Risk
Exit risk score 3.7/10 — low institutional crowding. Ownership is below peak levels, holder base is relatively sticky, and buying momentum is positive.

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 2025 Q4, 14 hedge funds were net buyers of DTF (9 opened a new position, 5 added to an existing one), while 10 reduced or exited (6 trimmed, 4 sold completely) — a 58% buyer ratio, indicating a slight buying edge. Net fund flow last quarter: +5 funds (more new holders than closures). Total institutional holders: 31.

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.

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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
2026 Q1 Stats Unlock in 1 days 31 + Investors

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

Metric All 13F Filers (2025 Q4) Prior (2025 Q3) Change
Funds Holding 31 26 19.23%
13F Shares 3M 3M 1.05%
Total Value $35M $34M 1.0%
New Positions 9 3 +6
Increased Positions 5 6 -1
Closed Positions 4 3 +1
Reduced Positions 6 7 -1
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 Q1)

31 + 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 institutional holders of DTF — 2025 Q4 · Source: SEC Form 13F
# Investor % of Portfolio Shares Mkt Value
1 Hara Capital LLC 1.74% 303,989 $3.5M
2 Almitas Capital LLC 0.92% 355,089 $4.1M
3 Beverly Hills Private Wealth, LLC 0.64% 336,342 $3.9M
4 Avise Financial Cooperative, Inc. 0.45% 47,028 $538K
5 SIT INVESTMENT ASSOCIATES INC 0.21% 923,460 $11K
6 Corps Capital Advisors, LLC 0.19% 19,000 $218K
7 Closed-End Fund Advisors, Inc. 0.17% 14,433 $165K
8 Basepoint Wealth LLC 0.13% 19,806 $227K
9 1607 Capital Partners, LLC 0.09% 105,609 $1.2M
10 MELFA WEALTH MANAGEMENT, INC. 0.07% 10,939 $125K
11 CITY OF LONDON INVESTMENT MANAGEMENT CO LTD 0.06% 71,012 $813K
12 Thomas J. Herzfeld Advisors, Inc. 0.05% 13,654 $156K
13 RIVERNORTH CAPITAL MANAGEMENT, LLC 0.02% 36,405 $417K
14 WFA of San Diego, LLC 0.01% 1,000 $11K
15 Karpus Management, Inc. 0.01% 19,211 $220K
16 Financial Gravity Asset Management, Inc. 0.01% 3,232 $37K
17 Centennial Bank/AR/ 0.01% 1,500 $17K
18 Focus Partners Wealth 0.01% 450,151 $5.4M
19 Savvy Advisors, Inc. 0.00% 14,545 $167K
20 Pinnacle Wealth Planning Services, Inc. 0.00% 1,250 $14K
21 Sanctuary Advisors, LLC 0.00% 18,300 $210K
22 Prestige Wealth Management Group LLC 0.00% 400 $5K
23 Corient Private Wealth LLC 0.00% 17,541 $201K
24 LPL Financial LLC 0.00% 37,283 $427K
25 MORGAN STANLEY 0.00% 82,776 $948K
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?

Buying streak — 1 quarter in a row: For 1 consecutive quarter, more hedge funds added DTF than sold it. That's a consistent pattern of professional buying — not a one-time trade. When institutions keep buying quarter after quarter, it usually means they see a multi-year opportunity, not just a short-term momentum flip.

What is the institutional breadth score for DTF?

Slight buying edge — 58% buying: Last quarter: 14 funds bought or added vs 10 that reduced or exited. It's nearly a 50/50 split — some institutions are convinced, others are taking profits. This mixed picture is normal near price highs.

What is the fund quality score for DTF holders?

Smaller funds dominant — 3% AUM from top-100: 4 of 31 holders rank in the top 100 by AUM, but together hold only 3% of total institutional value. The stock is held primarily by smaller and mid-sized funds.

How long have hedge funds held DTF?

55% of holders stayed for 2+ years: 17 out of 31 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.