DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s What Happened

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.23 and traded as low as $11.16. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.19, with a volume of 5,454 shares.

DTF Tax-Free Income 2028 Term Fund Price Performance

The stock has a fifty day simple moving average of $11.22 and a two-hundred day simple moving average of $11.23.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Stockholders of record on Monday, March 17th will be paid a $0.0325 dividend. The ex-dividend date is Monday, March 17th. This represents a $0.39 annualized dividend and a dividend yield of 3.47%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in DTF. Almitas Capital LLC boosted its position in DTF Tax-Free Income 2028 Term Fund by 1.2% in the 2nd quarter. Almitas Capital LLC now owns 353,247 shares of the investment management company’s stock valued at $3,872,000 after buying an additional 4,274 shares during the last quarter. Sanctuary Advisors LLC purchased a new position in DTF Tax-Free Income 2028 Term Fund in the second quarter valued at about $216,000. J.W. Cole Advisors Inc. acquired a new stake in DTF Tax-Free Income 2028 Term Fund during the 3rd quarter valued at approximately $138,000. Hara Capital LLC grew its stake in DTF Tax-Free Income 2028 Term Fund by 27.6% during the 3rd quarter. Hara Capital LLC now owns 462,306 shares of the investment management company’s stock valued at $5,210,000 after purchasing an additional 100,075 shares in the last quarter. Finally, Thrivent Financial for Lutherans acquired a new position in shares of DTF Tax-Free Income 2028 Term Fund in the 3rd quarter valued at approximately $308,000. 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.