Destra Multi-Alternative Fund (NYSE:DMA) Shares Down 1.5% – Here’s Why

Destra Multi-Alternative Fund (NYSE:DMA) dropped 1.5% during mid-day trading on Thursday . The company traded as low as $7.42 and last traded at $7.46. Approximately 36,110 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 26,343 shares. The stock had previously closed at $7.57.

Destra Multi-Alternative Fund Trading Down 0.1%

The firm has a fifty day simple moving average of $7.63 and a 200 day simple moving average of $7.68.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Several institutional investors have recently made changes to their positions in DMA. Alpine Global Management LLC lifted its stake in Destra Multi-Alternative Fund by 19.4% in the fourth quarter. Alpine Global Management LLC now owns 37,074 shares of the company’s stock worth $333,000 after acquiring an additional 6,018 shares during the period. Blue Bell Private Wealth Management LLC increased its position in Destra Multi-Alternative Fund by 3.1% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 238,649 shares of the company’s stock valued at $2,141,000 after purchasing an additional 7,190 shares during the period. Absolute Investment Advisers LLC increased its position in Destra Multi-Alternative Fund by 5.0% during the 1st quarter. Absolute Investment Advisers LLC now owns 273,696 shares of the company’s stock valued at $2,220,000 after purchasing an additional 13,117 shares during the period. Altium Capital Management LLC raised its holdings in shares of Destra Multi-Alternative Fund by 122.8% in the 1st quarter. Altium Capital Management LLC now owns 54,723 shares of the company’s stock valued at $444,000 after purchasing an additional 30,164 shares in the last quarter. Finally, Closed End Fund Advisors Inc. bought a new stake in shares of Destra Multi-Alternative Fund in the 4th quarter valued at about $1,801,000.

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.