DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Stock Passes Above 50-Day Moving Average - Time to Sell?

Key Points

• DTF Tax-Free Income 2028 Term Fund shares surpassed their 50-day moving average of $11.31, trading at $11.41 with a daily volume of 8,694 shares.
• The fund announced a monthly dividend of $0.0325, with stockholders of record to be paid on December 31st, representing a 3.4% dividend yield.
• Institutional investors own 43.81% of the fund, with notable recent stakes acquired by firms such as J.W. Cole Advisors Inc. and Nuveen LLC.

Shares of DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - ) passed above its 50 day moving average during trading on Wednesday . The stock has a 50 day moving average of $11.31 and traded as high as $11.43. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.41, with a volume of 8,694 shares traded.

DTF Tax-Free Income 2028 Term Fund Price Performance

The company has a 50-day moving average price of $11.31 and a two-hundred day moving average price of $11.23.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

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

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

Large investors have recently made changes to their positions in the company. Financial Gravity Asset Management Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 1st quarter valued at about $36,000. Financial Gravity Companies Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter valued at about $36,000. Raymond James Financial Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter valued at about $69,000. J.W. Cole Advisors Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter valued at about $165,000. Finally, Nuveen LLC acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 1st quarter valued at about $180,000. 43.81% of the stock is currently owned by institutional investors and hedge funds.

About DTF Tax-Free Income 2028 Term Fund

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.