Destra Multi-Alternative Fund (NYSE:DMA) Shares Down 1.5% – Time to Sell?

Destra Multi-Alternative Fund (NYSE:DMA) dropped 1.5% during mid-day trading on Thursday . The stock traded as low as $7.42 and last traded at $7.46. 36,110 shares traded hands during mid-day trading, an increase of 37% from the average daily volume of 26,343 shares. The stock had previously closed at $7.57.

Destra Multi-Alternative Fund Stock Performance

The company has a 50-day simple moving average of $7.64 and a 200-day simple moving average of $7.68.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Large investors have recently bought and sold shares of the business. Closed End Fund Advisors Inc. purchased a new stake in Destra Multi-Alternative Fund in the fourth quarter worth $1,801,000. Altium Capital Management LLC grew its stake in Destra Multi-Alternative Fund by 122.8% in the 1st quarter. Altium Capital Management LLC now owns 54,723 shares of the company’s stock worth $444,000 after acquiring an additional 30,164 shares in the last quarter. Absolute Investment Advisers LLC increased its position in shares of Destra Multi-Alternative Fund by 5.0% during 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 period. Blue Bell Private Wealth Management LLC raised its stake in shares of 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 acquiring an additional 7,190 shares in the last quarter. Finally, Alpine Global Management LLC boosted its holdings in shares of Destra Multi-Alternative Fund by 19.4% in the fourth quarter. Alpine Global Management LLC now owns 37,074 shares of the company’s stock valued at $333,000 after purchasing an additional 6,018 shares during the period.

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.