Destra Multi-Alternative Fund (NYSE:DMA – Get Free Report) was the target of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 2,274 shares, a drop of 85.0% from the April 15th total of 15,122 shares. Based on an average trading volume of 39,291 shares, the days-to-cover ratio is presently 0.1 days.
Institutional Inflows and Outflows
Institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new position in shares of Destra Multi-Alternative Fund during the 2nd quarter worth $25,000. Raymond James Financial Inc. purchased a new position in shares of Destra Multi-Alternative Fund during the 2nd quarter worth $50,000. Cetera Investment Advisers boosted its stake in shares of Destra Multi-Alternative Fund by 52.2% during the 4th quarter. Cetera Investment Advisers now owns 17,348 shares of the company’s stock worth $156,000 after acquiring an additional 5,952 shares during the last quarter. Altium Capital Management LLC purchased a new position in shares of Destra Multi-Alternative Fund during the 4th quarter worth $220,000. Finally, Osaic Holdings Inc. boosted its stake in shares of 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 acquiring an additional 4,716 shares during the last quarter.
Destra Multi-Alternative Fund Trading Down 0.6%
Shares of Destra Multi-Alternative Fund stock traded down $0.04 on Tuesday, hitting $7.22. 27,378 shares of the company’s stock were exchanged, compared to its average volume of 30,472. The company has a 50-day simple moving average of $7.99 and a 200-day simple moving average of $8.53. Destra Multi-Alternative Fund has a 1 year low of $7.12 and a 1 year high of $9.15.
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.
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