Destra Multi-Alternative Fund (NYSE:DMA) Stock Price Down 0.2% – Here’s Why

Shares of Destra Multi-Alternative Fund (NYSE:DMA) fell 0.2% during trading on Thursday . The company traded as low as $8.62 and last traded at $8.6450. 23,678 shares were traded during trading, a decline of 22% from the average session volume of 30,426 shares. The stock had previously closed at $8.66.

Destra Multi-Alternative Fund Stock Performance

The stock has a 50 day moving average price of $8.68 and a 200 day moving average price of $8.62.

Destra Multi-Alternative Fund Announces Dividend

The company also recently declared a monthly dividend, which will be paid on Friday, November 28th. Stockholders of record on Monday, November 17th will be paid a dividend of $0.0825 per share. This represents a c) dividend on an annualized basis and a dividend yield of 11.5%. The ex-dividend date of this dividend is Monday, November 17th.

Insider Activity at Destra Multi-Alternative Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 68,449 shares of the business’s stock in a transaction dated Tuesday, September 9th. The shares were purchased at an average cost of $8.60 per share, with a total value of $588,661.40. Following the completion of the purchase, the insider owned 2,235,144 shares of the company’s stock, valued at $19,222,238.40. This trade represents a 3.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Hedge funds have recently made changes to their positions in the stock. North Ground Capital acquired a new position in Destra Multi-Alternative Fund in the third quarter valued at approximately $510,000. Blue Bell Private Wealth Management LLC lifted its stake in Destra Multi-Alternative Fund by 33.4% in the third quarter. Blue Bell Private Wealth Management LLC now owns 231,459 shares of the company’s stock valued at $2,000,000 after buying an additional 58,006 shares during the period. Perigon Wealth Management LLC acquired a new position in Destra Multi-Alternative Fund in the third quarter valued at approximately $112,000. Osaic Holdings Inc. lifted its stake in Destra Multi-Alternative Fund by 19.4% in the second quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock valued at $254,000 after buying an additional 4,716 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Destra Multi-Alternative Fund in the second quarter valued at approximately $50,000.

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.