DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Stock Crosses Below 200 Day Moving Average – Here’s What Happened

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.42 and traded as low as $11.40. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.4910, with a volume of 2,667 shares.

DTF Tax-Free Income 2028 Term Fund Stock Up 0.0%

The company has a fifty day moving average price of $11.43 and a 200 day moving average price of $11.42.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

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

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of DTF. Focus Partners Wealth purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter worth about $190,000. Raymond James Financial Inc. purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter worth about $69,000. Seven Mile Advisory purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund in the third quarter worth about $1,446,000. Hara Capital LLC increased its holdings in shares of DTF Tax-Free Income 2028 Term Fund by 4.7% in the fourth quarter. Hara Capital LLC now owns 288,189 shares of the investment management company’s stock worth $3,291,000 after buying an additional 12,898 shares during the period. Finally, Savvy Advisors Inc. purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter worth about $166,000. Hedge funds and other institutional investors own 43.81% of the company’s stock.

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.