Destra Multi-Alternative Fund (NYSE:DMA) Short Interest Update

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 31,000 shares, a drop of 20.3% from the April 30th total of 38,900 shares. Based on an average daily volume of 29,900 shares, the days-to-cover ratio is presently 1.0 days.

Destra Multi-Alternative Fund Price Performance

DMA stock opened at $8.77 on Monday. Destra Multi-Alternative Fund has a 12 month low of $7.17 and a 12 month high of $9.16. The firm has a 50 day moving average of $8.33 and a two-hundred day moving average of $8.55.

Destra Multi-Alternative Fund Increases Dividend

The firm also recently announced an annual dividend, which will be paid on Monday, June 30th. Shareholders of record on Wednesday, June 18th will be given a $0.0825 dividend. This represents a yield of 3.1%. This is an increase from Destra Multi-Alternative Fund’s previous annual dividend of $0.07. The ex-dividend date is Wednesday, June 18th.

Insider Buying and Selling

In other Destra Multi-Alternative Fund news, major shareholder Saba Capital Management, L.P. bought 22,684 shares of the firm’s stock in a transaction on Thursday, April 24th. The stock was bought at an average cost of $8.10 per share, with a total value of $183,740.40. Following the completion of the transaction, the insider now directly owns 1,775,386 shares of the company’s stock, valued at approximately $14,380,626.60. The trade was a 1.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Over the last three months, insiders purchased 184,089 shares of company stock worth $1,541,368.

Institutional Trading of Destra Multi-Alternative Fund

A number of institutional investors and hedge funds have recently modified their holdings of the company. Absolute Investment Advisers LLC acquired a new stake in shares of Destra Multi-Alternative Fund in the fourth quarter worth $6,039,000. Thomas J. Herzfeld Advisors Inc. lifted its stake in shares of Destra Multi-Alternative Fund by 3.0% in the fourth quarter. Thomas J. Herzfeld Advisors Inc. now owns 689,580 shares of the company’s stock worth $5,834,000 after buying an additional 20,377 shares during the last quarter. Bulldog Investors LLP lifted its stake in shares of Destra Multi-Alternative Fund by 73.8% in the fourth quarter. Bulldog Investors LLP now owns 392,993 shares of the company’s stock worth $3,325,000 after buying an additional 166,851 shares during the last quarter. Quarry LP lifted its stake in shares of Destra Multi-Alternative Fund by 25.4% in the fourth quarter. Quarry LP now owns 223,888 shares of the company’s stock worth $1,894,000 after buying an additional 45,385 shares during the last quarter. Finally, Noble Wealth Management PBC acquired a new stake in shares of Destra Multi-Alternative Fund in the first quarter worth $568,000.

Destra Multi-Alternative Fund Company Profile

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.