DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Stock Short Interest Jumps 66.9%

Key Points

• Short interest surged 66.9% to 19,738 shares as of September 30, representing about 0.3% of outstanding shares and 2.1 days to cover.
• DTF shares opened at $11.44, near their 50-day and 200-day moving averages. The fund declared a monthly dividend of $0.0325 per share, equivalent to a 3.4% annualized yield.
• Institutional investors own 43.81% of the fund, which invests primarily in municipal securities to provide income exempt from regular U.S. federal income tax.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report) was the target of a large increase in short interest in September. As of September 30th, there was short interest totaling 19,738 shares, an increase of 66.9% from the September 15th total of 11,827 shares. Approximately 0.3% of the shares of the stock are sold short. Based on an average daily volume of 9,465 shares, the days-to-cover ratio is presently 2.1 days.

DTF Tax-Free Income 2028 Term Fund Trading Up 1.6%

NYSE:DTF opened at $11.44 on Friday. DTF Tax-Free Income 2028 Term Fund has a 12 month low of $11.14 and a 12 month high of $11.60. The business's 50-day moving average is $11.42 and its 200 day moving average is $11.45.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Wednesday, December 30th. Investors of record on Tuesday, December 15th will be paid a dividend of $0.0325 per share. The ex-dividend date of this dividend is Tuesday, December 15th. This represents a $0.39 dividend on an annualized basis and a yield of 3.4%.

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. 49 Wealth Management LLC purchased a new stake in DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth about $258,000. Almitas Capital LLC purchased a new position in DTF Tax-Free Income 2028 Term Fund during the 2nd quarter valued at $4,101,000. Corient Private Wealth LP purchased a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the second quarter valued at $203,000. Sanctuary Advisors LLC bought a new position in DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth about $116,000. Finally, Hara Capital LLC bought a new position in DTF Tax-Free Income 2028 Term Fund in the second quarter worth approximately $3,554,000. Hedge funds and other institutional investors own 43.81% of the company's stock.

DTF Tax-Free Income 2028 Term Fund Company Profile

DTF Tax-Free Income 2028 Term Fund is a closed-end investment company listed on the New York Stock Exchange under the symbol DTF. The fund seeks to provide current income that is exempt from regular U.S. federal income tax by investing primarily in a portfolio of municipal securities.

The fund invests in debt obligations issued by states, municipalities and other governmental entities or agencies across the United States. These securities may finance public projects and services such as transportation, education, health care, utilities and other essential infrastructure.

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