Destra Multi-Alternative Fund (NYSE:DMA) Stock Price Up 0.2% – What’s Next?

Destra Multi-Alternative Fund (NYSE:DMA) rose 0.2% during mid-day trading on Wednesday . The company traded as high as $8.78 and last traded at $8.75. Approximately 25,750 shares changed hands during mid-day trading, a decline of 16% from the average daily volume of 30,685 shares. The stock had previously closed at $8.73.

Destra Multi-Alternative Fund Stock Up 0.2%

The business has a fifty day moving average of $8.68 and a 200-day moving average of $8.55.

Destra Multi-Alternative Fund Dividend Announcement

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Investors of record on Monday, November 17th will be issued 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 11.3%.

Insider Activity

In other news, major shareholder Saba Capital Management, L.P. purchased 68,449 shares of the stock in a transaction that occurred on Tuesday, September 9th. The stock was purchased at an average price of $8.60 per share, for a total transaction of $588,661.40. Following the completion of the acquisition, 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 transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders purchased a total of 248,667 shares of company stock valued at $2,136,170 in the last ninety days.

Institutional Trading of Destra Multi-Alternative Fund

Hedge funds have recently bought and sold shares of the stock. JPMorgan Chase & Co. purchased a new stake in Destra Multi-Alternative Fund during the second quarter worth $25,000. Raymond James Financial Inc. purchased a new stake in Destra Multi-Alternative Fund during the second quarter worth $50,000. K2 Principal Fund L.P. lifted its holdings in Destra Multi-Alternative Fund by 37.5% during the first quarter. K2 Principal Fund L.P. now owns 19,702 shares of the company’s stock worth $167,000 after buying an additional 5,372 shares during the period. Osaic Holdings Inc. lifted its holdings in Destra Multi-Alternative Fund by 19.4% during the second quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock worth $254,000 after buying an additional 4,716 shares during the period. Finally, Weaver Consulting Group lifted its holdings in Destra Multi-Alternative Fund by 34.3% during the first quarter. Weaver Consulting Group now owns 29,370 shares of the company’s stock worth $249,000 after buying an additional 7,500 shares during the period.

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.