DTF Tax-Free Income 2028 Term Fund (NYSE:DTF) Share Price Crosses Below Two Hundred Day Moving Average – Here’s Why

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF)’s share price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $11.20 and traded as low as $10.97. DTF Tax-Free Income 2028 Term Fund shares last traded at $11.06, with a volume of 64,541 shares trading hands.

DTF Tax-Free Income 2028 Term Fund Stock Up 0.6 %

The stock’s 50-day moving average price is $11.23 and its 200 day moving average price is $11.20.

DTF Tax-Free Income 2028 Term Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Monday, March 31st. Shareholders of record on Monday, March 17th will be given a dividend of $0.0325 per share. This represents a $0.39 annualized dividend and a yield of 3.50%. The ex-dividend date of this dividend is Monday, March 17th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of DTF. Sanctuary Advisors LLC increased 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 buying an additional 3,000 shares during the period. Almitas Capital LLC increased its position in 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 worth $3,872,000 after acquiring an additional 4,274 shares during the period. J.W. Cole Advisors Inc. acquired a new stake in DTF Tax-Free Income 2028 Term Fund in the 3rd quarter worth about $138,000. Virtu Financial LLC bought a new stake in DTF Tax-Free Income 2028 Term Fund in the 3rd quarter valued at about $207,000. Finally, Thrivent Financial for Lutherans bought a new position in shares of DTF Tax-Free Income 2028 Term Fund during the third quarter worth approximately $308,000. 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.