Destra Multi-Alternative Fund (NYSE:DMA) Stock Price Down 0.1% – Should You Sell?

Destra Multi-Alternative Fund (NYSE:DMA) shares fell 0.1% on Monday . The company traded as low as $8.68 and last traded at $8.69. 50,789 shares changed hands during trading, an increase of 75% from the average session volume of 29,051 shares. The stock had previously closed at $8.70.

Destra Multi-Alternative Fund Stock Performance

The stock’s 50 day simple moving average is $8.67 and its two-hundred day simple moving average is $8.54.

Destra Multi-Alternative Fund Dividend Announcement

The company also recently announced an annual dividend, which will be paid on Tuesday, September 30th. Stockholders of record on Friday, September 19th will be issued a $0.0825 dividend. The ex-dividend date of this dividend is Friday, September 19th. This represents a dividend yield of 890.0%.

Insider Buying and Selling at Destra Multi-Alternative Fund

In other news, major shareholder Saba Capital Management, L.P. bought 41,802 shares of the stock in a transaction dated Thursday, August 14th. The shares were acquired at an average price of $8.66 per share, with a total value of $362,005.32. Following the acquisition, the insider owned 2,138,272 shares in the company, valued at $18,517,435.52. This trade represents a 1.99% increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Over the last 90 days, insiders have bought 180,218 shares of company stock valued at $1,547,509.

Institutional Investors Weigh In On Destra Multi-Alternative Fund

Several large investors have recently made changes to their positions in the company. Raymond James Financial Inc. bought a new stake in shares of Destra Multi-Alternative Fund in the 2nd quarter worth about $50,000. JPMorgan Chase & Co. bought a new stake in shares of Destra Multi-Alternative Fund in the 2nd quarter worth about $25,000. Matisse Capital grew its holdings in shares of Destra Multi-Alternative Fund by 3.0% in the 2nd quarter. Matisse Capital now owns 407,000 shares of the company’s stock worth $3,561,000 after purchasing an additional 11,693 shares during the last quarter. K2 Principal Fund L.P. grew its holdings 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 worth $167,000 after purchasing an additional 5,372 shares during the last quarter. Finally, Weaver Consulting Group grew its holdings in shares of Destra Multi-Alternative Fund by 34.3% in the 1st quarter. Weaver Consulting Group now owns 29,370 shares of the company’s stock worth $249,000 after purchasing an additional 7,500 shares during 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.