DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Share Price Passes Above Fifty Day Moving Average - What's Next?

Key Points

• The share price of DTF Tax-Free Income 2028 Term Fund has recently crossed above its fifty-day moving average of $11.29, reaching a high of $11.36.
• The fund has announced a monthly dividend of $0.0325 per share, set to be paid on December 31, with an ex-dividend date of December 15, resulting in a yield of 3.4%.
• Significant activity from institutional investors includes Beverly Hills Private Wealth LLC increasing its holdings by 23%, and Sit Investment Associates Inc. boosting their position by 47% in the first quarter.

Shares of DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - ) crossed above its fifty day moving average during trading on Tuesday . The stock has a fifty day moving average of $11.29 and traded as high as $11.36. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.33, with a volume of 9,305 shares.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The business has a 50-day moving average of $11.29 and a two-hundred day moving average of $11.23.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

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

Institutional Investors Weigh In On DTF Tax-Free Income 2028 Term Fund

Institutional investors have recently added to or reduced their stakes in the stock. Beverly Hills Private Wealth LLC boosted its holdings in 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 valued at $3,431,000 after purchasing an additional 57,141 shares in the last quarter. Sit Investment Associates Inc. boosted its holdings in DTF Tax-Free Income 2028 Term Fund by 47.0% during the first 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 in the last quarter. Nuveen LLC acquired a new stake in DTF Tax-Free Income 2028 Term Fund during the first quarter valued at approximately $180,000. Financial Gravity Asset Management Inc. acquired a new stake in DTF Tax-Free Income 2028 Term Fund during the first quarter valued at approximately $36,000. Finally, Hara Capital LLC boosted its holdings in DTF Tax-Free Income 2028 Term Fund by 0.7% during the first quarter. Hara Capital LLC now owns 247,965 shares of the investment management company's stock valued at $2,780,000 after purchasing an additional 1,800 shares in the last quarter. 43.81% of the stock is owned by institutional investors and hedge funds.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.