DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Shares Pass Below 50-Day Moving Average – Here’s Why

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF)’s stock price crossed below its 50 day moving average during trading on Monday . The stock has a 50 day moving average of $11.23 and traded as low as $11.23. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.28, with a volume of 25,768 shares traded.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The stock’s 50 day moving average price is $11.23 and its 200-day moving average price is $11.21.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The business also recently disclosed a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a $0.0325 dividend. The ex-dividend date of this dividend is Monday, March 17th. This represents a $0.39 annualized dividend and a yield of 3.46%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Sanctuary Advisors LLC raised its position in DTF Tax-Free Income 2028 Term Fund by 14.9% during the 3rd quarter. Sanctuary Advisors LLC now owns 23,119 shares of the investment management company’s stock valued at $260,000 after purchasing an additional 3,000 shares in the last quarter. Almitas Capital LLC increased its stake in shares of DTF Tax-Free Income 2028 Term Fund by 1.2% during the second 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 period. J.W. Cole Advisors Inc. bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the third quarter valued at about $138,000. Virtu Financial LLC purchased a new stake in DTF Tax-Free Income 2028 Term Fund in the third quarter worth about $207,000. Finally, Thrivent Financial for Lutherans bought a new position in DTF Tax-Free Income 2028 Term Fund during the 3rd quarter worth about $308,000. Institutional investors own 43.81% of the company’s stock.

About DTF Tax-Free Income 2028 Term Fund

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.