Destra Multi-Alternative Fund (NYSE:DMA) Sees Significant Drop in Short Interest

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a large drop in short interest in March. As of March 31st, there was short interest totaling 12,598 shares, a drop of 26.6% from the March 15th total of 17,155 shares. Based on an average daily volume of 18,748 shares, the days-to-cover ratio is currently 0.7 days.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Several hedge funds have recently bought and sold shares of the business. Blue Bell Private Wealth Management LLC increased 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 worth $2,141,000 after buying an additional 7,190 shares during the last quarter. Closed End Fund Advisors Inc. bought a new position in shares of Destra Multi-Alternative Fund in the fourth quarter valued at approximately $1,801,000. Noble Wealth Management PBC raised its position in shares of Destra Multi-Alternative Fund by 32.6% in the fourth quarter. Noble Wealth Management PBC now owns 191,346 shares of the company’s stock valued at $1,716,000 after purchasing an additional 47,000 shares during the period. North Ground Capital raised its position in shares of 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 during the period. Finally, IHT Wealth Management LLC raised its position in shares of 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 during the period.

Destra Multi-Alternative Fund Trading Up 1.3%

Destra Multi-Alternative Fund stock traded up $0.10 during mid-day trading on Friday, hitting $8.10. 25,412 shares of the company’s stock were exchanged, compared to its average volume of 29,828. Destra Multi-Alternative Fund has a 1-year low of $7.70 and a 1-year high of $9.15. The stock has a 50 day moving average of $8.28 and a two-hundred day moving average of $8.64.

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.