Destra Multi-Alternative Fund (NYSE:DMA) Trading 0.1% Higher – Time to Buy?

Destra Multi-Alternative Fund (NYSE:DMA) shares shot up 0.1% during trading on Wednesday . The company traded as high as $7.76 and last traded at $7.67. Approximately 7,360 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 27,003 shares. The stock had previously closed at $7.66.

Destra Multi-Alternative Fund Stock Performance

The firm’s 50 day moving average price is $7.58 and its two-hundred day moving average price is $7.89.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

A number of institutional investors have recently bought and sold shares of DMA. Altium Capital Management LLC boosted its stake in shares of Destra Multi-Alternative Fund by 122.8% during 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 during the period. Absolute Investment Advisers LLC raised its stake in Destra Multi-Alternative Fund by 5.0% in the 1st quarter. Absolute Investment Advisers LLC now owns 273,696 shares of the company’s stock valued at $2,220,000 after acquiring an additional 13,117 shares during the period. Alpine Global Management LLC lifted its holdings in Destra Multi-Alternative Fund by 19.4% during the 4th 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 last quarter. IHT Wealth Management LLC lifted its holdings in Destra Multi-Alternative Fund by 22.9% during the 4th 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 last quarter. Finally, Evolve Private Wealth LLC bought a new position in Destra Multi-Alternative Fund during the fourth quarter worth $461,000.

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.