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

Key Points

• DTF shares fell below their 200-day moving average, trading as low as $11.33 and last changing hands at $11.35, compared with a 200-day average of $11.45.
• The fund announced a monthly dividend of $0.0325 per share, equivalent to $0.39 annually and a 3.4% yield; payment is scheduled for December 30 to shareholders of record December 15.
• Institutional ownership stands at 43.81%, with several investment firms establishing new positions during the second quarter, including Hara Capital’s $3.554 million stake.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report)'s stock price passed below its 200-day moving average during trading on Friday. The stock has a 200-day moving average of $11.45 and traded as low as $11.33. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.35, with a volume of 831 shares changing hands.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The stock has a 50-day simple moving average of $11.40 and a 200 day simple moving average of $11.45.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, December 30th. Stockholders 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 dividend yield of 3.4%.

Hedge Funds Weigh In On DTF Tax-Free Income 2028 Term Fund

Institutional investors have recently made changes to their positions in the company. Sanctuary Advisors LLC purchased a new stake in DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth $116,000. Corient Private Wealth LP acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth $203,000. 49 Wealth Management LLC acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth $258,000. Avise Financial Cooperative Inc. acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter worth $542,000. Finally, Hara Capital LLC purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 2nd quarter worth $3,554,000. 43.81% of the stock is owned by hedge funds and other institutional investors.

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.

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.