DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Share Price Passes Below 200 Day Moving Average - Here's Why

Key Points

• DTF shares slipped below their 200-day moving average of $11.46 during Monday trading, reaching a low of $11.46 before last trading at $11.48 on volume of 1,163 shares.
• The fund declared a monthly dividend of $0.0325 per share, payable September 29 to shareholders of record September 15. The dividend implies an annualized yield of approximately 3.4%.
• Institutional investors and hedge funds own 43.81% of DTF, with Focus Partners Wealth significantly increasing its stake during the fourth quarter. The closed-end fund invests primarily in municipal securities and is scheduled to liquidate in August 2028.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report)'s stock price passed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $11.46 and traded as low as $11.46. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.48, with a volume of 1,163 shares trading hands.

DTF Tax-Free Income 2028 Term Fund Price Performance

The stock has a 50-day moving average price of $11.49 and a 200-day moving average price of $11.46.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

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

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

Several hedge funds have recently added to or reduced their stakes in the business. Focus Partners Wealth boosted its position in DTF Tax-Free Income 2028 Term Fund by 2,687.2% during the fourth quarter. Focus Partners Wealth now owns 480,856 shares of the investment management company's stock worth $5,492,000 after purchasing an additional 463,604 shares during the period. LPL Financial LLC bought a new position in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter valued at about $204,000. Closed End Fund Advisors Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth about $165,000. Avise Financial Cooperative Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth about $537,000. Finally, Garner Asset Management Corp bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth about $70,000. Institutional investors and hedge funds own 43.81% of the company's stock.

DTF Tax-Free Income 2028 Term Fund Company Profile

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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