DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Shares Pass Above Fifty Day Moving Average – Here’s Why

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF)’s share price crossed above its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.47 and traded as high as $11.47. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.39, with a volume of 2,937 shares trading hands.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The stock has a 50 day moving average of $11.47 and a 200-day moving average of $11.41.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The business also recently disclosed a monthly dividend, which will be paid on Monday, June 29th. Investors of record on Monday, June 15th will be paid a dividend of $0.0325 per share. The ex-dividend date is Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 3.4%.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the stock. Focus Partners Wealth grew its stake in shares of DTF Tax-Free Income 2028 Term Fund by 2,687.2% during the 4th quarter. Focus Partners Wealth now owns 480,856 shares of the investment management company’s stock valued at $5,492,000 after acquiring an additional 463,604 shares during the period. Hara Capital LLC grew its stake in shares of DTF Tax-Free Income 2028 Term Fund by 4.7% during the 4th quarter. Hara Capital LLC now owns 288,189 shares of the investment management company’s stock valued at $3,291,000 after acquiring an additional 12,898 shares during the period. Seven Mile Advisory bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 3rd quarter valued at approximately $1,446,000. Avise Financial Cooperative Inc. bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 4th quarter valued at approximately $537,000. Finally, LPL Financial LLC bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 4th quarter valued at approximately $204,000. 43.81% of the stock is currently owned by institutional investors.

About DTF Tax-Free Income 2028 Term Fund

DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) is a closed-end management investment company that seeks to provide shareholders with tax-exempt current income and return of capital on a specified termination date in 2028. The fund pursues its investment objective primarily by investing in a diversified portfolio of municipal securities issued by state and local governmental entities across the United States. Its portfolio typically focuses on investment-grade obligations, though it may allocate assets across different maturities to manage income generation and portfolio duration.

The fund is structured to liquidate its holdings and return net assets to shareholders upon reaching its scheduled termination date in August 2028.