RiverNorth reports 106,066 shares (1.51%) in DTF — Schedule 13G/A

RiverNorth Capital Management, LLC filed an amendment to a Schedule 13G reporting beneficial ownership of 106,066 shares of common stock of DTF Tax-Free Income 2028 Term Fund Inc., representing 1.51% of the class.

Rhea-AI Filing Summary

RiverNorth Capital Management, LLC filed an amendment to a Schedule 13G reporting beneficial ownership of 106,066 shares of common stock of DTF Tax-Free Income 2028 Term Fund Inc., representing 1.51% of the class. The filing shows RiverNorth has sole voting and sole dispositive power over these shares and classifies itself as an investment adviser.

The statement certifies the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control of the issuer. The issuer’s principal office and the filer’s principal business addresses are provided, and the filing notes that one person has the right to receive proceeds from the sale of the reported securities.

Insights

Securities Analyst

TL;DR: Ownership disclosed is small (1.51%) and presented as a routine investment position, with no intent to influence control.

RiverNorth reports beneficial ownership of 106,066 shares, with sole voting and dispositive power, and explicitly certifies the position was acquired in the ordinary course of business and not to change or influence control. Given the 1.51% stake, this filing is informational and consistent with regulatory transparency obligations for investment advisers. There is no indication in the document of activist intent or material influence on corporate control.

Corporate Governance Expert

TL;DR: This is a routine disclosure; the reporting party affirms no control intent and holds sole voting/dispositive authority over a sub-5% stake.

The Schedule 13G amendment clarifies ownership mechanics and compliance posture: RiverNorth is identified as an investment adviser with sole voting and dispositive powers over the reported shares. The certification language stating the holdings are not for control purposes reduces governance concern. The mention that one person may receive sale proceeds is factual but does not, by itself, signal any governance change.

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How many DTF (DTF) shares does RiverNorth report owning?

RiverNorth reports beneficial ownership of 106,066 shares of DTF common stock, representing 1.51% of the class.

Does RiverNorth have voting power over the reported DTF shares?

Yes. The filing shows RiverNorth has sole voting power and sole dispositive power over the 106,066 shares.

Was the DTF stake reported as intended to influence control of the issuer?

No. The filing includes a certification that the securities were acquired and are held in the ordinary course of business and not for the purpose of changing or influencing control.

Is RiverNorth classified as an investment adviser in this filing?

Yes. The document lists RiverNorth Capital Management, LLC as an investment adviser (IA) and indicates Delaware as its place of organization.

Who signed the Schedule 13G/A on behalf of RiverNorth?

The filing is signed by Marcus Collins, identified as General Counsel and Chief Compliance Officer for RiverNorth Capital Management, LLC.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Accepted by SEC EDGAR 08/14/2025 - 02:53 PM Learn about SEC filing dates

SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

SCHEDULE 13G

UNDER THE SECURITIES EXCHANGE ACT OF 1934

(Amendment No. 1)

DTF TAX-FREE INCOME 2028 TERM FUND INC

(Name of Issuer)

Common Stock

(Title of Class of Securities)

23334J107

(CUSIP Number)

06/30/2025

(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

Rule 13d-1(b)

Rule 13d-1(c)

Rule 13d-1(d)

SCHEDULE 13G

CUSIP No. 23334J107

1

Names of Reporting Persons

RIVERNORTH CAPITAL MANAGEMENT, LLC

2

Check the appropriate box if a member of a Group (see instructions)

(a)
(b)

3

Sec Use Only

4

Citizenship or Place of Organization

DELAWARE

Number of Shares Beneficially Owned by Each Reporting Person With:

5	Sole Voting Power 106,066.00
6	Shared Voting Power 0.00
7	Sole Dispositive Power 106,066.00
8	Shared Dispositive Power 0.00

9

Aggregate Amount Beneficially Owned by Each Reporting Person

106,066.00

10

Check box if the aggregate amount in row (9) excludes certain shares (See Instructions)

11

Percent of class represented by amount in row (9)

1.51 %

12

Type of Reporting Person (See Instructions)

IA

SCHEDULE 13G

Item 1.
(a)	Name of issuer: DTF TAX-FREE INCOME 2028 TERM FUND INC
(b)	Address of issuer's principal executive offices: 10 SOUTH WACKER DRIVE, SUITE 1900, CHICAGO, IL, 60606
Item 2.
(a)	Name of person filing: RiverNorth Capital Management, LLC
(b)	Address or principal business office or, if none, residence: 360 S. Rosemary Avenue, Ste. 1420 West Palm Beach, Florida 33401
(c)	Citizenship: Delaware
(d)	Title of class of securities: Common Stock
(e)	CUSIP No.: 23334J107
Item 3.	If this statement is filed pursuant to §§ 240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is a:
(a)	Broker or dealer registered under section 15 of the Act (15 U.S.C. 78o);
(b)	Bank as defined in section 3(a)(6) of the Act (15 U.S.C. 78c);
(c)	Insurance company as defined in section 3(a)(19) of the Act (15 U.S.C. 78c);
(d)	Investment company registered under section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
(e)	An investment adviser in accordance with § 240.13d-1(b)(1)(ii)(E);
(f)	An employee benefit plan or endowment fund in accordance with § 240.13d-1(b)(1)(ii)(F);
(g)	A parent holding company or control person in accordance with § 240.13d-1(b)(1)(ii)(G);
(h)	A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
(i)	A church plan that is excluded from the definition of an investment company under section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
(j)	A non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J). If filing as a non-U.S. institution in accordance with § 240.13d-1(b)(1)(ii)(J), please specify the type of institution:
(k)	Group, in accordance with Rule 240.13d-1(b)(1)(ii)(K).
Item 4.	Ownership
(a)	Amount beneficially owned: 106,066
(b)	Percent of class: 1.51 %
(c)	Number of shares as to which the person has:
	(i) Sole power to vote or to direct the vote: 106,066
	(ii) Shared power to vote or to direct the vote: 0
	(iii) Sole power to dispose or to direct the disposition of: 106,066
	(iv) Shared power to dispose or to direct the disposition of: 0
Item 5.	Ownership of 5 Percent or Less of a Class.
	Ownership of 5 percent or less of a class
Item 6.	Ownership of more than 5 Percent on Behalf of Another Person.
	If any other person is known to have the right to receive or the power to direct the receipt of dividends from, or the proceeds from the sale of, such securities, a statement to that effect should be included in response to this item and, if such interest relates to more than 5 percent of the class, such person should be identified. A listing of the shareholders of an investment company registered under the Investment Company Act of 1940 or the beneficiaries of employee benefit plan, pension fund or endowment fund is not required. One person have the right to receive the proceeds from the sale of the securities reported herein.
Item 7.	Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person.
	If a parent holding company has filed this schedule, pursuant to Rule 13d-1(b)(ii)(G), so indicate under Item 3(g) and attach an exhibit stating the identity and the Item 3 classification of the relevant subsidiary. If a parent holding company has filed this schedule pursuant to Rule 13d-1(c) or Rule 13d-1(d), attach an exhibit stating the identification of the relevant subsidiary. Not applicable.
Item 8.	Identification and Classification of Members of the Group.
	If a group has filed this schedule pursuant to §240.13d-1(b)(1)(ii)(J), so indicate under Item 3(j) and attach an exhibit stating the identity and Item 3 classification of each member of the group. If a group has filed this schedule pursuant to §240.13d-1(c) or §240.13d-1(d), attach an exhibit stating the identity of each member of the group. Not applicable.
Item 9.	Notice of Dissolution of Group.
	Notice of dissolution of a group may be furnished as an exhibit stating the date of the dissolution and that all further filings with respect to transactions in the security reported on will be filed, if required, by members of the group, in their individual capacity. See Item 5. Not applicable.

Item 10.

Certifications:

By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were acquired and are held in the ordinary course of business and were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect, other than activities solely in connection with a nomination under ?? 240.14a-11.

SIGNATURE

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

RIVERNORTH CAPITAL MANAGEMENT, LLC

Signature:	/s/ Marcus Collins
Name/Title:	Marcus Collins, General Counsel and Chief Compliance Officer
Date:	08/14/2025