DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Short Interest Update

Key Points

• Short interest in DTF fell by 20.9% in March to 8,625 shares, leaving a days-to-cover ratio of 0.9 and just 0.1% of shares short.
• The fund declared a monthly dividend of $0.0325 (ex-dividend/record date June 15; payable June 29), implying an annualized yield of about 3.4%.
• DTF is a closed-end, tax-exempt municipal term fund scheduled to liquidate and return assets in August 2028, and institutional investors own roughly 43.8% of the shares with several hedge funds recently building positions.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report) was the recipient of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 8,625 shares, a decrease of 20.9% from the February 26th total of 10,903 shares. Based on an average daily volume of 9,581 shares, the days-to-cover ratio is currently 0.9 days. Currently, 0.1% of the shares of the company are short sold.

DTF Tax-Free Income 2028 Term Fund Stock Performance

Shares of NYSE:DTF opened at $11.34 on Friday. DTF Tax-Free Income 2028 Term Fund has a 1-year low of $10.95 and a 1-year high of $11.60. The firm has a fifty day moving average price of $11.47 and a 200 day moving average price of $11.40.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

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

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

A number of hedge funds have recently made changes to their positions in DTF. Focus Partners Wealth purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter valued at $190,000. J.W. Cole Advisors Inc. purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 2nd quarter worth $165,000. Raymond James Financial Inc. acquired a new position in DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth $69,000. Hara Capital LLC lifted its holdings in DTF Tax-Free Income 2028 Term Fund by 3.1% in the 2nd quarter. Hara Capital LLC now owns 255,607 shares of the investment management company's stock worth $2,860,000 after buying an additional 7,642 shares in the last quarter. Finally, Seven Mile Advisory purchased a new position in DTF Tax-Free Income 2028 Term Fund in the 3rd quarter valued at about $1,446,000. 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.

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