Destra Multi-Alternative Fund (NYSE:DMA) Trading Down 1.6% – Time to Sell?

Destra Multi-Alternative Fund (NYSE:DMA)’s share price dropped 1.6% on Monday . The company traded as low as $8.47 and last traded at $8.5540. Approximately 28,880 shares changed hands during trading, a decline of 12% from the average daily volume of 33,002 shares. The stock had previously closed at $8.69.

Destra Multi-Alternative Fund Price Performance

The business has a 50-day moving average of $8.90 and a 200 day moving average of $8.77.

Destra Multi-Alternative Fund Announces Dividend

The company also recently disclosed a monthly dividend, which will be paid on Wednesday, September 30th. Stockholders of record on Friday, September 18th will be issued a dividend of $0.1125 per share. This represents a c) annualized dividend and a dividend yield of 15.8%. The ex-dividend date of this dividend is Friday, September 18th.

Institutional Investors Weigh In On Destra Multi-Alternative Fund

Several large investors have recently bought and sold shares of the business. LPL Financial LLC lifted its holdings in shares of Destra Multi-Alternative Fund by 3.7% in the 4th quarter. LPL Financial LLC now owns 54,838 shares of the company’s stock valued at $492,000 after acquiring an additional 1,953 shares during the last quarter. Weaver Consulting Group raised its position in Destra Multi-Alternative Fund by 8.3% during the third quarter. Weaver Consulting Group now owns 30,170 shares of the company’s stock valued at $261,000 after purchasing an additional 2,300 shares during the period. JPMorgan Chase & Co. bought a new stake in shares of Destra Multi-Alternative Fund in the 2nd quarter valued at approximately $25,000. Osaic Holdings Inc. boosted its holdings in shares of Destra Multi-Alternative Fund by 19.4% in the 2nd quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock worth $254,000 after purchasing an additional 4,716 shares during the period. Finally, Raymond James Financial Inc. purchased a new position in shares of Destra Multi-Alternative Fund in the 2nd quarter worth approximately $50,000.

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.