DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Share Price Passes Below 200 Day Moving Average of $10.75

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) crossed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $10.75 and traded as low as $10.66. DTF Tax-Free Income 2028 Term Fund shares last traded at $10.66, with a volume of 4,240 shares changing hands.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The stock’s fifty day moving average is $10.78 and its 200-day moving average is $10.75.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The company also recently disclosed a monthly dividend, which will be paid on Friday, June 28th. Investors of record on Monday, June 17th will be issued a dividend of $0.0325 per share. This represents a $0.39 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, June 17th.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the stock. Relative Value Partners Group LLC lifted its stake in DTF Tax-Free Income 2028 Term Fund by 338.6% in the fourth quarter. Relative Value Partners Group LLC now owns 525,090 shares of the investment management company’s stock valued at $5,645,000 after buying an additional 405,366 shares in the last quarter. Atlas Wealth LLC lifted its stake in DTF Tax-Free Income 2028 Term Fund by 43.1% in the third quarter. Atlas Wealth LLC now owns 325,914 shares of the investment management company’s stock valued at $3,478,000 after buying an additional 98,117 shares in the last quarter. City of London Investment Management Co. Ltd. bought a new position in DTF Tax-Free Income 2028 Term Fund in the first quarter valued at approximately $1,678,000. Thomas J. Herzfeld Advisors Inc. lifted its stake in DTF Tax-Free Income 2028 Term Fund by 1,881.5% in the third quarter. Thomas J. Herzfeld Advisors Inc. now owns 29,723 shares of the investment management company’s stock valued at $317,000 after buying an additional 28,223 shares in the last quarter. Finally, First Trust Advisors LP lifted its position in shares of DTF Tax-Free Income 2028 Term Fund by 7.5% in the first quarter. First Trust Advisors LP now owns 28,211 shares of the investment management company’s stock worth $366,000 after purchasing an additional 1,963 shares in the last quarter. 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.