Destra Multi-Alternative Fund (NYSE:DMA) Shares Up 0.2% – Should You Buy?

Destra Multi-Alternative Fund (NYSE:DMA)’s stock price was up 0.2% on Wednesday . The stock traded as high as $8.78 and last traded at $8.75. Approximately 25,750 shares changed hands during 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 Trading Up 0.2%

The company has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $8.55.

Destra Multi-Alternative Fund Announces Dividend

The business also recently disclosed 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. This represents a c) dividend on an annualized basis and a yield of 11.3%. The ex-dividend date is Monday, November 17th.

Insider Buying and Selling

In related news, major shareholder Saba Capital Management, L.P. purchased 68,449 shares of the stock in a transaction dated Tuesday, September 9th. The stock was bought at an average cost of $8.60 per share, with a total value of $588,661.40. Following the purchase, the insider directly owned 2,235,144 shares in the company, valued at $19,222,238.40. The trade was a 3.16% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Insiders bought a total of 248,667 shares of company stock valued at $2,136,170 in the last ninety days.

Institutional Investors Weigh In On Destra Multi-Alternative Fund

Large investors have recently bought and sold shares of the company. JPMorgan Chase & Co. bought a new stake in Destra Multi-Alternative Fund in the second quarter valued at approximately $25,000. Raymond James Financial Inc. bought a new stake in shares of Destra Multi-Alternative Fund in the 2nd quarter valued at $50,000. K2 Principal Fund L.P. increased its position in shares of Destra Multi-Alternative Fund by 37.5% in the 1st quarter. K2 Principal Fund L.P. now owns 19,702 shares of the company’s stock valued at $167,000 after buying an additional 5,372 shares in the last quarter. Osaic Holdings Inc. increased its holdings in shares of Destra Multi-Alternative Fund by 19.4% in the second quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock worth $254,000 after acquiring an additional 4,716 shares in the last quarter. Finally, Weaver Consulting Group increased its holdings in shares of Destra Multi-Alternative Fund by 34.3% in the first quarter. Weaver Consulting Group now owns 29,370 shares of the company’s stock worth $249,000 after acquiring an additional 7,500 shares in the last quarter.

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.