Destra Multi-Alternative Fund (NYSE:DMA) Stock Price Down 0.2% – Here’s What Happened

Shares of Destra Multi-Alternative Fund (NYSE:DMA) fell 0.2% during trading on Thursday . The stock traded as low as $8.88 and last traded at $8.9150. 28,240 shares changed hands during mid-day trading, an increase of 19% from the average session volume of 23,746 shares. The stock had previously closed at $8.93.

Destra Multi-Alternative Fund Price Performance

The company’s fifty day moving average is $8.90 and its two-hundred day moving average is $8.76.

Destra Multi-Alternative Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th will be paid a $0.1125 dividend. The ex-dividend date of this dividend is Friday, September 18th. This represents a c) dividend on an annualized basis and a dividend yield of 15.1%.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Hedge funds have recently bought and sold shares of the company. JPMorgan Chase & Co. purchased a new position in Destra Multi-Alternative Fund during the 2nd quarter valued at about $25,000. Raymond James Financial Inc. purchased a new position in shares of Destra Multi-Alternative Fund in the second quarter valued at approximately $50,000. Perigon Wealth Management LLC acquired a new position in shares of Destra Multi-Alternative Fund in the third quarter valued at approximately $112,000. Osaic Holdings Inc. increased its stake 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 worth $254,000 after buying an additional 4,716 shares during the period. Finally, Weaver Consulting Group grew its stake in shares of Destra Multi-Alternative Fund by 8.3% in the third quarter. Weaver Consulting Group now owns 30,170 shares of the company’s stock worth $261,000 after acquiring an additional 2,300 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.