DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Stock Price Passes Below 200-Day Moving Average – Time to Sell?

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.42 and traded as low as $11.31. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.3850, with a volume of 1,628 shares trading hands.

DTF Tax-Free Income 2028 Term Fund Stock Performance

The firm has a fifty day simple moving average of $11.43 and a two-hundred day simple moving average of $11.42.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Monday, June 29th. Shareholders of record on Monday, June 15th will be issued a dividend of $0.0325 per share. This represents a c) annualized dividend and a yield of 3.4%. The ex-dividend date is Monday, June 15th.

Hedge Funds Weigh In On DTF Tax-Free Income 2028 Term Fund

Several institutional investors have recently added to or reduced their stakes in DTF. Focus Partners Wealth purchased a new position in DTF Tax-Free Income 2028 Term Fund during the 1st quarter valued at approximately $190,000. Raymond James Financial Inc. bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 2nd quarter valued at approximately $69,000. Hara Capital LLC lifted its stake in shares of DTF Tax-Free Income 2028 Term Fund by 7.7% in the 3rd quarter. Hara Capital LLC now owns 275,291 shares of the investment management company’s stock valued at $3,147,000 after purchasing an additional 19,684 shares during the last quarter. Seven Mile Advisory bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 3rd quarter valued at approximately $1,446,000. Finally, Savvy Advisors Inc. bought a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the 4th quarter valued at approximately $166,000. Hedge funds and other 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 (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.