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

Key Points

• Price breakout: DTF's stock briefly crossed above its 50-day moving average (50-day = $11.46), trading as high as $11.48 and last at $11.4440 on volume of 11,639 shares, up roughly 0.1%.
• Dividend announced: The fund will pay a monthly dividend of $0.0325 per share (ex-dividend and record date June 15; payable June 29), implying an annualized yield of about 3.4%.
• Fund profile and ownership: DTF is a closed-end municipal bond term fund that will liquidate and return assets at its scheduled termination in August 2028, and roughly 43.81% of shares are held by hedge funds and institutional investors.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report)'s stock price crossed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $11.46 and traded as high as $11.48. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.4440, with a volume of 11,639 shares trading hands.

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

The firm has a fifty day moving average of $11.46 and a 200 day moving average of $11.41.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

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

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

Several hedge funds and other institutional investors have recently bought and sold shares of DTF. Raymond James Financial Inc. purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 2nd quarter worth approximately $69,000. Garner Asset Management Corp purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth approximately $70,000. Closed End Fund Advisors Inc. purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth approximately $165,000. Savvy Advisors Inc. purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 4th quarter worth approximately $166,000. Finally, Focus Partners Wealth purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the 1st quarter worth approximately $190,000. 43.81% of the stock is currently owned by hedge funds and other institutional investors.

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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