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

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

Destra Multi-Alternative Fund Price Performance

The company’s 50 day simple moving average is $7.45 and its two-hundred day simple moving average is $8.04.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Several institutional investors and hedge funds have recently modified their holdings of the stock. Absolute Investment Advisers LLC increased its stake in shares of Destra Multi-Alternative Fund by 5.0% in the first quarter. Absolute Investment Advisers LLC now owns 273,696 shares of the company’s stock worth $2,220,000 after acquiring an additional 13,117 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its position in Destra Multi-Alternative Fund by 3.1% during the fourth 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 last quarter. Closed End Fund Advisors Inc. acquired a new stake in Destra Multi-Alternative Fund during the fourth quarter valued at $1,801,000. North Ground Capital grew its stake in Destra Multi-Alternative Fund by 31.0% in the fourth quarter. North Ground Capital now owns 77,310 shares of the company’s stock valued at $693,000 after purchasing an additional 18,304 shares in the last quarter. Finally, IHT Wealth Management LLC grew its stake in Destra Multi-Alternative Fund by 22.9% in the fourth quarter. IHT Wealth Management LLC now owns 71,858 shares of the company’s stock valued at $645,000 after purchasing an additional 13,407 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.