Destra Multi-Alternative Fund (NYSE:DMA) Trading Down 1.6% – Time to Sell?

Destra Multi-Alternative Fund (NYSE:DMA)’s stock price traded down 1.6% during trading on Monday . The stock traded as low as $8.47 and last traded at $8.5540. 28,880 shares traded hands during trading, a decline of 12% from the average session volume of 33,002 shares. The stock had previously closed at $8.69.

Destra Multi-Alternative Fund Price Performance

The company’s 50 day simple moving average is $8.90 and its 200-day simple moving average is $8.77.

Destra Multi-Alternative Fund Dividend Announcement

The firm also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Investors of record on Friday, September 18th will be issued a dividend of $0.1125 per share. The ex-dividend date is Friday, September 18th. This represents a c) dividend on an annualized basis and a yield of 15.8%.

Institutional Trading of Destra Multi-Alternative Fund

Several institutional investors and hedge funds have recently made changes to their positions in the business. Closed End Fund Advisors Inc. purchased a new stake in shares of Destra Multi-Alternative Fund during the fourth quarter valued at $1,801,000. North Ground Capital bought a new stake in Destra Multi-Alternative Fund during the 3rd quarter valued at about $510,000. Blue Bell Private Wealth Management LLC boosted its position in Destra Multi-Alternative Fund by 33.4% in the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 231,459 shares of the company’s stock valued at $2,000,000 after buying an additional 58,006 shares during the period. Evolve Private Wealth LLC bought a new position in Destra Multi-Alternative Fund in the 4th quarter worth about $461,000. Finally, Noble Wealth Management PBC grew its stake in Destra Multi-Alternative Fund by 32.6% in the 4th quarter. Noble Wealth Management PBC now owns 191,346 shares of the company’s stock worth $1,716,000 after acquiring an additional 47,000 shares in the last quarter.

Destra Multi-Alternative Fund Company Profile

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.