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

Shares of Destra Multi-Alternative Fund (NYSE:DMA) were down 0.2% on Thursday . The stock traded as low as $8.62 and last traded at $8.6450. Approximately 23,678 shares changed hands during trading, a decline of 22% from the average daily volume of 30,426 shares. The stock had previously closed at $8.66.

Destra Multi-Alternative Fund Trading Down 0.2%

The firm has a 50-day simple moving average of $8.68 and a two-hundred day simple moving average of $8.62.

Destra Multi-Alternative Fund Announces Dividend

The business also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be given a $0.0825 dividend. The ex-dividend date is Monday, November 17th. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%.

Insider Activity at Destra Multi-Alternative Fund

In related news, major shareholder Saba Capital Management, L.P. purchased 68,449 shares of the firm’s stock in a transaction that occurred on Tuesday, September 9th. The shares were bought at an average price of $8.60 per share, for a total transaction of $588,661.40. Following the completion of the transaction, the insider owned 2,235,144 shares of the company’s stock, valued at approximately $19,222,238.40. This trade represents a 3.16% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available through this link.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Matisse Capital increased its position in shares of Destra Multi-Alternative Fund by 3.0% in the second quarter. Matisse Capital now owns 407,000 shares of the company’s stock worth $3,561,000 after purchasing an additional 11,693 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in Destra Multi-Alternative Fund by 33.4% in the third 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 in the last quarter. North Ground Capital acquired a new stake in Destra Multi-Alternative Fund in the third quarter valued at about $510,000. Weaver Consulting Group boosted its stake in Destra Multi-Alternative Fund by 34.3% in the first quarter. Weaver Consulting Group now owns 29,370 shares of the company’s stock valued at $249,000 after buying an additional 7,500 shares in the last quarter. Finally, Osaic Holdings Inc. boosted its stake in Destra Multi-Alternative Fund by 19.4% in the second quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock valued at $254,000 after buying an additional 4,716 shares in the last quarter.

About Destra Multi-Alternative Fund

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.