Destra Multi-Alternative Fund (NYSE:DMA) Shares Down 2.5% – Here’s What Happened

Destra Multi-Alternative Fund (NYSE:DMA)’s share price fell 2.5% during trading on Tuesday . The company traded as low as $7.63 and last traded at $7.6420. 21,652 shares traded hands during mid-day trading, a decline of 23% from the average session volume of 27,992 shares. The stock had previously closed at $7.84.

Destra Multi-Alternative Fund Stock Performance

The firm’s 50-day simple moving average is $7.45 and its two-hundred day simple moving average is $8.04.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. JPMorgan Chase & Co. purchased a new stake in Destra Multi-Alternative Fund in the 2nd quarter worth about $25,000. Raymond James Financial Inc. acquired a new stake in Destra Multi-Alternative Fund during the 2nd quarter worth about $50,000. Cetera Investment Advisers grew its stake in Destra Multi-Alternative Fund by 52.2% during the 4th quarter. Cetera Investment Advisers now owns 17,348 shares of the company’s stock valued at $156,000 after acquiring an additional 5,952 shares in the last quarter. Altium Capital Management LLC purchased a new position in Destra Multi-Alternative Fund during the 4th quarter valued at about $220,000. Finally, Osaic Holdings Inc. grew its stake in Destra Multi-Alternative Fund by 19.4% during the 2nd quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock valued at $254,000 after acquiring an additional 4,716 shares in the last quarter.

About Destra Multi-Alternative Fund

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.