DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Stock Price Passes Above Fifty Day Moving Average – Should You Sell?

Shares of DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) crossed above its fifty day moving average during trading on Monday . The stock has a fifty day moving average of $11.47 and traded as high as $11.48. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.44, with a volume of 1,469 shares changing hands.

DTF Tax-Free Income 2028 Term Fund Price Performance

The stock’s fifty day moving average is $11.47 and its 200-day moving average is $11.40.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 30th. Stockholders of record on Monday, March 16th will be paid a $0.0325 dividend. The ex-dividend date of this dividend is Monday, March 16th. This represents a c) annualized dividend and a dividend yield of 3.4%.

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in DTF. Financial Gravity Companies Inc. acquired a new position in DTF Tax-Free Income 2028 Term Fund in the second quarter valued at about $36,000. Raymond James Financial Inc. purchased a new position in DTF Tax-Free Income 2028 Term Fund during the second quarter worth about $69,000. Garner Asset Management Corp acquired a new stake in shares of DTF Tax-Free Income 2028 Term Fund during the fourth quarter valued at about $70,000. Hara Capital LLC raised its stake in shares of DTF Tax-Free Income 2028 Term Fund by 3.1% in the 2nd quarter. Hara Capital LLC now owns 255,607 shares of the investment management company’s stock valued at $2,860,000 after acquiring an additional 7,642 shares during the period. Finally, Closed End Fund Advisors Inc. purchased a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 4th quarter valued at approximately $165,000. Institutional investors and hedge funds own 43.81% of the company’s stock.

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.