307,689 Shares in DTF Tax-Free Income 2028 Term Fund Inc. $DTF Acquired by Hara Capital LLC

Key Points

• Hara Capital LLC acquired 307,689 shares of DTF Tax-Free Income 2028 Term Fund in the second quarter, worth approximately $3.55 million. The position represents about 4.38% of DTF and 1.9% of Hara Capital’s portfolio.
• Other institutional investors also initiated positions, bringing total hedge fund and institutional ownership of DTF to 43.81%.
• DTF shares opened at $11.51, near their 50- and 200-day moving averages. The fund declared a monthly dividend of $0.0325 per share, representing an annualized yield of approximately 3.4%, and is scheduled to liquidate in August 2028.

Hara Capital LLC bought a new position in DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The fund bought 307,689 shares of the investment management company's stock, valued at approximately $3,554,000. DTF Tax-Free Income 2028 Term Fund accounts for about 1.9% of Hara Capital LLC's investment portfolio, making the stock its 14th largest position. Hara Capital LLC owned approximately 4.38% of DTF Tax-Free Income 2028 Term Fund at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in DTF. Raymond James Financial Inc. bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 2nd quarter valued at $69,000. Garner Asset Management Corp bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter worth $70,000. Closed End Fund Advisors Inc. purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the fourth quarter valued at $165,000. Focus Partners Wealth purchased a new stake in DTF Tax-Free Income 2028 Term Fund during the first quarter valued at $190,000. Finally, LPL Financial LLC bought a new position in DTF Tax-Free Income 2028 Term Fund in the fourth quarter valued at about $204,000. 43.81% of the stock is currently owned by hedge funds and other institutional investors.

DTF Tax-Free Income 2028 Term Fund Price Performance

Shares of NYSE:DTF opened at $11.51 on Friday. The stock's 50-day simple moving average is $11.50 and its two-hundred day simple moving average is $11.47. DTF Tax-Free Income 2028 Term Fund Inc. has a 52-week low of $11.21 and a 52-week high of $11.60.

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. Stockholders of record on Tuesday, September 15th will be given a dividend of $0.0325 per share. The ex-dividend date of this dividend is Tuesday, September 15th. This represents a c) annualized dividend and a dividend yield of 3.4%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source