DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Sees Large Decline in Short Interest

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) was the recipient of a significant decline in short interest in the month of February. As of February 28th, there was short interest totalling 23,900 shares, a decline of 15.8% from the February 13th total of 28,400 shares. Based on an average trading volume of 23,800 shares, the short-interest ratio is presently 1.0 days.

DTF Tax-Free Income 2028 Term Fund Price Performance

DTF stock traded down $0.02 during trading on Wednesday, reaching $11.18. 14,197 shares of the stock traded hands, compared to its average volume of 15,602. The business’s 50 day moving average price is $11.28 and its 200-day moving average price is $11.26. DTF Tax-Free Income 2028 Term Fund has a 52-week low of $10.63 and a 52-week high of $11.45.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The business also recently announced a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a $0.0325 dividend. This represents a $0.39 annualized dividend and a dividend yield of 3.49%. The ex-dividend date is Monday, June 16th.

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

Several institutional investors and hedge funds have recently modified their holdings of DTF. Sit Investment Associates Inc. purchased a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter worth about $6,946,000. Kovitz Investment Group Partners LLC acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the third quarter worth about $5,819,000. Beverly Hills Private Wealth LLC lifted its stake in shares of DTF Tax-Free Income 2028 Term Fund by 146.6% in the fourth quarter. Beverly Hills Private Wealth LLC now owns 248,947 shares of the investment management company’s stock worth $2,792,000 after acquiring an additional 148,014 shares in the last quarter. Thrivent Financial for Lutherans acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the third quarter worth about $308,000. Finally, Corps Capital Advisors LLC acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the fourth quarter worth about $213,000. 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 Inc is a closed-ended fixed income mutual fund launched by Virtus Investment Partners, Inc The fund is managed by Duff & Phelps Investment Management Co It invests primarily in a diversified portfolio of investment grade tax-exempt utility obligations. The fund invests in various sectors, such as water and sewer, electric utilities, prerefunded utilities, pollution control, and nonutilities.