Destra Multi-Alternative Fund (NYSE:DMA) Stock Price Down 2.5% – Time to Sell?

Destra Multi-Alternative Fund (NYSE:DMA) was down 2.5% during mid-day trading on Tuesday . The company traded as low as $7.63 and last traded at $7.6420. 21,652 shares traded hands during mid-day trading, a decline of 23% from the average daily volume of 27,992 shares. The stock had previously closed at $7.84.

Destra Multi-Alternative Fund Stock Down 0.4%

The firm has a 50 day moving average of $7.46 and a 200-day moving average of $8.03.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. LPL Financial LLC lifted its stake in Destra Multi-Alternative Fund by 3.7% in the fourth quarter. LPL Financial LLC now owns 54,838 shares of the company’s stock worth $492,000 after acquiring an additional 1,953 shares during the period. JPMorgan Chase & Co. purchased a new position in Destra Multi-Alternative Fund during the 2nd quarter valued at about $25,000. Osaic Holdings Inc. increased its position in Destra Multi-Alternative Fund by 19.4% during the 2nd quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock valued at $254,000 after purchasing an additional 4,716 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Destra Multi-Alternative Fund in the 2nd quarter valued at about $50,000. Finally, Cetera Investment Advisers raised its holdings in shares of Destra Multi-Alternative Fund by 52.2% in the 4th quarter. Cetera Investment Advisers now owns 17,348 shares of the company’s stock valued at $156,000 after purchasing an additional 5,952 shares in the last quarter.

About Destra Multi-Alternative Fund

Destra Multi-Alternative Fund Inc (NYSE: DMA) is a closed-end, diversified management investment company that employs a multi-alternative strategy to deliver income and total return. The fund seeks to achieve its objectives by allocating assets among a variety of alternative income-producing investments, including closed-end funds, business development companies (BDCs), real estate investment trusts (REITs), master limited partnerships (MLPs) and preferred securities. This blend of assets is intended to provide a level of diversification and potential for regular distributions.

The fund’s investment approach combines fundamental research with active portfolio management, targeting securities with attractive yield characteristics and growth potential.