SCHEDULE: RiverNorth Capital's 1.51% Stake in DTF Tax-Free Fund
Passive Ownership Disclosure (Schedule 13G Amendment)
RiverNorth Capital Management, LLC, an investment adviser, disclosed a 1.51% passive ownership stake, totaling 106,066 shares, in DTF Tax-Free Income 2028 Term Fund Inc. via an amended Schedule 13G.
Summary
- RiverNorth Capital Management, LLC reported beneficial ownership of 106,066 shares of Common Stock in DTF Tax-Free Income 2028 Term Fund Inc.
- This ownership represents 1.51% of the class of securities.
- The reporting person, RiverNorth Capital Management, LLC, is a Delaware-organized entity and is classified as an investment adviser.
- RiverNorth Capital Management, LLC holds sole voting power and sole dispositive power over all 106,066 shares.
- The securities were acquired and are held in the ordinary course of business, not for the purpose of changing or influencing control of the issuer.
Sentiment
Score: 5
Explanation: The filing is a routine passive ownership disclosure (Schedule 13G Amendment) and does not contain information that would significantly alter the sentiment towards the issuer. It simply reports an existing stake by an investment adviser.
Positives
- An institutional investment adviser, RiverNorth Capital Management, LLC, holds a stake, indicating their interest in the fund.
Future Outlook
This filing is a disclosure of passive ownership and does not contain forward-looking statements or guidance from the issuer or the reporting person regarding the issuer's future performance.
Industry Context
Schedule 13G filings are standard disclosures by passive investors who own less than 5% of a company's stock and do not intend to influence control. For closed-end funds like DTF Tax-Free Income 2028 Term Fund Inc., such disclosures indicate institutional interest in the fund's shares, which are publicly traded.
Stakeholder Impact
- Shareholders: Provides transparency regarding institutional ownership, confirming a passive stake by RiverNorth Capital Management, LLC.
Key Dates
| Date | Description |
|---|---|
| 06/30/2025 | Date of event which requires filing of this statement. |
| 08/14/2025 | Date of signature for the Schedule 13G Amendment No. 1 filing. |
Keywords
DTF Tax-Free Income 2028 Term Fund Inc, RiverNorth Capital Management, Schedule 13G, Common Stock, Investment Adviser, Passive Investment, Ownership Disclosure, Closed-End Fund, Tax-Free Income
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