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

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) was the target of a significant decrease in short interest during the month of February. As of February 13th, there was short interest totaling 10,847 shares, a decrease of 21.8% from the January 29th total of 13,867 shares. Currently, 0.2% of the shares of the stock are sold short. Based on an average trading volume of 3,208 shares, the days-to-cover ratio is currently 3.4 days. Based on an average trading volume of 3,208 shares, the days-to-cover ratio is currently 3.4 days. Currently, 0.2% of the shares of the stock are sold short.

DTF Tax-Free Income 2028 Term Fund Stock Performance

NYSE DTF opened at $11.57 on Monday. The stock’s 50-day simple moving average is $11.45 and its two-hundred day simple moving average is $11.39. DTF Tax-Free Income 2028 Term Fund has a twelve month low of $10.95 and a twelve month high of $11.60.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

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

Institutional Trading of DTF Tax-Free Income 2028 Term Fund

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Financial Gravity Companies Inc. purchased a new position in shares of DTF Tax-Free Income 2028 Term Fund during the second quarter worth approximately $36,000. Raymond James Financial Inc. bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the 2nd quarter valued at $69,000. Garner Asset Management Corp purchased a new position in DTF Tax-Free Income 2028 Term Fund in the 4th quarter worth $70,000. Closed End Fund Advisors Inc. purchased a new position in DTF Tax-Free Income 2028 Term Fund in the 4th quarter worth $165,000. Finally, Savvy Advisors Inc. bought a new stake in DTF Tax-Free Income 2028 Term Fund in the fourth quarter worth $166,000. Hedge funds and other 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 (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.