Short Interest in DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) Declines By 30.1%

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) was the target of a significant decline in short interest in March. As of March 15th, there was short interest totalling 16,700 shares, a decline of 30.1% from the February 28th total of 23,900 shares. Based on an average daily trading volume, of 17,500 shares, the days-to-cover ratio is currently 1.0 days.

DTF Tax-Free Income 2028 Term Fund Price Performance

Shares of DTF stock traded up $0.01 on Friday, hitting $11.25. The stock had a trading volume of 8,829 shares, compared to its average volume of 14,862. The company’s 50 day moving average price is $11.29 and its 200-day moving average price is $11.26. DTF Tax-Free Income 2028 Term Fund has a 1 year low of $10.63 and a 1 year high of $11.45.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The firm also recently declared a monthly dividend, which will be paid on Monday, June 30th. Stockholders of record on Monday, June 16th will be given a dividend of $0.0325 per share. The ex-dividend date of this dividend is Monday, June 16th. This represents a $0.39 annualized dividend and a dividend yield of 3.47%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. GWN Securities Inc. acquired a new stake in DTF Tax-Free Income 2028 Term Fund in the 4th quarter valued at about $155,000. J.W. Cole Advisors Inc. boosted its stake in DTF Tax-Free Income 2028 Term Fund by 20.4% in the fourth quarter. J.W. Cole Advisors Inc. now owns 14,780 shares of the investment management company’s stock valued at $166,000 after acquiring an additional 2,500 shares in the last quarter. Virtu Financial LLC purchased a new stake in DTF Tax-Free Income 2028 Term Fund in the third quarter valued at approximately $207,000. Corps Capital Advisors LLC purchased a new stake in DTF Tax-Free Income 2028 Term Fund in the 4th quarter valued at $213,000. Finally, Sanctuary Advisors LLC grew 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 worth $260,000 after purchasing an additional 3,000 shares during the last quarter. Institutional investors and hedge funds 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.