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

DTF Tax-Free Income 2028 Term Fund Inc. (NYSE:DTF) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totalling 5,500 shares, a growth of 139.1% from the September 30th total of 2,300 shares. Based on an average daily volume of 11,000 shares, the days-to-cover ratio is currently 0.5 days.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the company. Almitas Capital LLC boosted 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 valued at $3,872,000 after purchasing an additional 4,274 shares in the last quarter. J.W. Cole Advisors Inc. acquired a new position in DTF Tax-Free Income 2028 Term Fund during the third quarter valued at $138,000. Sanctuary Advisors LLC purchased a new stake in shares of DTF Tax-Free Income 2028 Term Fund in the second quarter worth about $216,000. Finally, Beverly Hills Private Wealth LLC grew its stake in shares of DTF Tax-Free Income 2028 Term Fund by 105.2% during the 2nd quarter. Beverly Hills Private Wealth LLC now owns 58,502 shares of the investment management company’s stock worth $641,000 after purchasing an additional 29,990 shares during the period. 43.81% of the stock is owned by hedge funds and other institutional investors.

DTF Tax-Free Income 2028 Term Fund Stock Performance

DTF traded down $0.01 during trading on Friday, hitting $11.20. 9,731 shares of the company traded hands, compared to its average volume of 14,223. The stock’s 50-day simple moving average is $11.28 and its two-hundred day simple moving average is $11.07. DTF Tax-Free Income 2028 Term Fund has a 1 year low of $10.33 and a 1 year high of $11.45.

DTF Tax-Free Income 2028 Term Fund Dividend Announcement

The business also recently declared a monthly dividend, which will be paid on Tuesday, December 31st. Investors of record on Monday, December 16th will be given a $0.0325 dividend. The ex-dividend date of this dividend is Monday, December 16th. This represents a $0.39 annualized dividend and a yield of 3.48%.

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.