Short Interest in DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Declines By 41.5%

Key Points

• Short interest in DTF fell 41.5% to 15,028 shares as of April 15 (about 0.2% of shares) with a short-interest ratio of 1.2 days based on average volume.
• Institutional investors own 43.81% of DTF, and several institutions recently initiated or increased stakes, including Seven Mile Advisory, Hara Capital, Savvy Advisors, Raymond James and Focus Partners.
• The fund declared a monthly dividend of $0.0325 per share (record/ex-dividend date June 15, paid June 29), implying an annualized yield of about 3.4%.

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF - Get Free Report) saw a significant decline in short interest in the month of April. As of April 15th, there was short interest totaling 15,028 shares, a decline of 41.5% from the March 31st total of 25,680 shares. Approximately 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 12,803 shares, the short-interest ratio is presently 1.2 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Seven Mile Advisory acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the third quarter valued at approximately $1,446,000. Hara Capital LLC increased its holdings in shares of DTF Tax-Free Income 2028 Term Fund by 7.7% in the third quarter. Hara Capital LLC now owns 275,291 shares of the investment management company's stock valued at $3,147,000 after purchasing an additional 19,684 shares during the period. Savvy Advisors Inc. acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter valued at approximately $166,000. Raymond James Financial Inc. acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter valued at approximately $69,000. Finally, Focus Partners Wealth acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the first quarter valued at approximately $190,000. Institutional investors and hedge funds own 43.81% of the company's stock.

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

DTF traded up $0.02 during trading on Monday, hitting $11.46. 15,125 shares of the stock were exchanged, compared to its average volume of 13,218. DTF Tax-Free Income 2028 Term Fund has a 1-year low of $11.09 and a 1-year high of $11.60. The stock has a fifty day moving average price of $11.45 and a two-hundred day moving average price of $11.41.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be given a dividend of $0.0325 per share. The ex-dividend date of this dividend is Monday, June 15th. This represents a c) annualized dividend and a 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.

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