Destra Multi-Alternative Fund (NYSE:DMA) Plans Monthly Dividend of $0.08

Destra Multi-Alternative Fund (NYSE:DMA) declared a monthly dividend on Monday, August 18th. Stockholders of record on Monday, November 17th will be paid a dividend of 0.0825 per share on Friday, November 28th. This represents a c) dividend on an annualized basis and a dividend yield of 11.2%. The ex-dividend date of this dividend is Monday, November 17th.

Destra Multi-Alternative Fund Stock Performance

DMA traded up $0.01 on Friday, reaching $8.82. The company had a trading volume of 12,905 shares, compared to its average volume of 29,861. The company has a fifty day moving average of $8.69 and a 200-day moving average of $8.68. Destra Multi-Alternative Fund has a one year low of $7.17 and a one year high of $9.16.

Insider Transactions at Destra Multi-Alternative Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 68,449 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The stock was acquired at an average price of $8.60 per share, for a total transaction of $588,661.40. Following the transaction, the insider directly owned 2,235,144 shares of the company’s stock, valued at $19,222,238.40. This trade represents a 3.16% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have purchased a total of 69,287 shares of company stock valued at $595,883 in the last quarter.

Institutional Investors Weigh In On Destra Multi-Alternative Fund

Several hedge funds have recently bought and sold shares of DMA. Weaver Consulting Group boosted its position in Destra Multi-Alternative Fund by 8.3% during the third quarter. Weaver Consulting Group now owns 30,170 shares of the company’s stock valued at $261,000 after purchasing an additional 2,300 shares during the last quarter. North Ground Capital bought a new position in Destra Multi-Alternative Fund during the third quarter valued at approximately $510,000. Blue Bell Private Wealth Management LLC raised its position in Destra Multi-Alternative Fund by 33.4% during the third quarter. Blue Bell Private Wealth Management LLC now owns 231,459 shares of the company’s stock valued at $2,000,000 after acquiring an additional 58,006 shares in the last quarter. Perigon Wealth Management LLC acquired a new stake in Destra Multi-Alternative Fund in the third quarter valued at approximately $112,000. Finally, Osaic Holdings Inc. grew its position in Destra Multi-Alternative Fund by 19.4% in the second quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock worth $254,000 after acquiring an additional 4,716 shares in the last quarter.

About Destra Multi-Alternative Fund

Multi-Strategy Growth & Income Fund is a closed ended balanced mutual fund launched and managed by Pinhook Capital, LLC. It invests in public equity and fixed income markets of the United States. For its equity portion, the fund primarily invests directly, in other funds, and through derivatives such as options to invest in stocks of companies operating in the real estate sector, including real estate investment trusts.