DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Announces $0.03 Monthly Dividend

Key Points

• DTF Tax-Free Income 2028 Term Fund Inc. announced a monthly dividend of $0.03 per share, with the payment date set for December 31st for investors on record by December 15th, resulting in a 3.4% annualized dividend yield.
• The fund’s stock opened at $11.33, showing slight stability with recent price fluctuations between a low of $10.83 and a high of $11.45 over the last year.
• Institutional investors have recently increased their holdings significantly in the fund, with hedge funds owning 43.81% of its stock, indicating rising interest among institutional traders.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report) declared a monthly dividend on Thursday, September 18th. Investors of record on Monday, December 15th will be paid a dividend of 0.0325 per share by the investment management company on Wednesday, December 31st. This represents a c) annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend is Monday, December 15th.

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

DTF stock opened at $11.33 on Friday. The stock's 50 day moving average price is $11.28 and its 200 day moving average price is $11.23. DTF Tax-Free Income 2028 Term Fund has a 1 year low of $10.83 and a 1 year high of $11.45.

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Sit Investment Associates Inc. raised its stake in DTF Tax-Free Income 2028 Term Fund by 47.0% in the 1st quarter. Sit Investment Associates Inc. now owns 910,488 shares of the investment management company's stock valued at $10,207,000 after purchasing an additional 291,117 shares during the last quarter. Beverly Hills Private Wealth LLC grew its holdings in shares of DTF Tax-Free Income 2028 Term Fund by 23.0% during the first quarter. Beverly Hills Private Wealth LLC now owns 306,088 shares of the investment management company's stock worth $3,431,000 after buying an additional 57,141 shares in the last quarter. Focus Partners Wealth purchased a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the first quarter worth about $190,000. Nuveen LLC acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter valued at approximately $180,000. Finally, J.W. Cole Advisors Inc. purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund during the second quarter valued at approximately $165,000. Hedge funds and other institutional investors own 43.81% of the company's stock.

DTF Tax-Free Income 2028 Term Fund Company Profile

DTF Tax-Free Income 2028 Term Fund Inc is a closed-ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests primarily in a diversified portfolio of investment grade tax-exempt utility obligations. The fund invests in various sectors, such as water and sewer, electric utilities, prerefunded utilities, pollution control, and nonutilities.

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