DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Sees Large Growth in Short Interest

Key Points

• DTF Tax-Free Income 2028 Term Fund Inc. experienced a significant increase in short interest, rising by 45.6% to a total of 15,000 shares as of August 31st.
• Institutional investors have increased their stakes, with Beverly Hills Private Wealth LLC raising its investment by 23.0% and Sit Investment Associates Inc. boosting its holdings by 47.0% in the first quarter.
• The stock is currently trading at $11.36, with a twelve-month high of $11.45 and a low of $10.83.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report) was the target of a large growth in short interest in August. As of August 31st, there was short interest totaling 15,000 shares, a growth of 45.6% from the August 15th total of 10,300 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average daily volume of 5,600 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 5,600 shares, the days-to-cover ratio is currently 2.7 days. Currently, 0.2% of the shares of the stock are sold short.

DTF Tax-Free Income 2028 Term Fund Trading Up 0.1%

DTF traded up $0.01 during midday trading on Friday, hitting $11.33. The company had a trading volume of 13,896 shares, compared to its average volume of 4,710. DTF Tax-Free Income 2028 Term Fund has a twelve month low of $10.83 and a twelve month high of $11.45. The firm's 50-day simple moving average is $11.29 and its 200-day simple moving average is $11.23.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Wednesday, December 31st. Shareholders of record on Monday, December 15th will be paid a $0.0325 dividend. The ex-dividend date of this dividend is Monday, December 15th. This represents a c) dividend on an annualized basis and a yield of 3.4%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of DTF. Financial Gravity Asset Management Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter valued at approximately $36,000. Financial Gravity Companies Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter valued at approximately $36,000. Raymond James Financial Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter valued at approximately $69,000. J.W. Cole Advisors Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter valued at approximately $165,000. Finally, Nuveen LLC acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter valued at approximately $180,000. 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.