Destra Multi-Alternative Fund (NYSE:DMA) Sees Large Decline in Short Interest

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 2,274 shares, a decrease of 85.0% from the April 15th total of 15,122 shares. Based on an average daily trading volume, of 39,291 shares, the days-to-cover ratio is currently 0.1 days.

Destra Multi-Alternative Fund Stock Performance

Shares of DMA stock traded down $0.16 during mid-day trading on Thursday, hitting $7.14. 85,707 shares of the stock traded hands, compared to its average volume of 30,985. The stock’s fifty day moving average is $7.92 and its two-hundred day moving average is $8.50. Destra Multi-Alternative Fund has a 52-week low of $6.97 and a 52-week high of $9.15.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Several institutional investors and hedge funds have recently bought and sold shares of the company. Altium Capital Management LLC grew its holdings in Destra Multi-Alternative Fund by 122.8% in the first quarter. Altium Capital Management LLC now owns 54,723 shares of the company’s stock worth $444,000 after purchasing an additional 30,164 shares during the last quarter. Absolute Investment Advisers LLC grew its holdings in Destra Multi-Alternative Fund by 5.0% in the first quarter. Absolute Investment Advisers LLC now owns 273,696 shares of the company’s stock worth $2,220,000 after purchasing an additional 13,117 shares during the last quarter. Alpine Global Management LLC raised its stake in Destra Multi-Alternative Fund by 19.4% in the fourth quarter. Alpine Global Management LLC now owns 37,074 shares of the company’s stock valued at $333,000 after buying an additional 6,018 shares during the last quarter. IHT Wealth Management LLC raised its stake in Destra Multi-Alternative Fund by 22.9% in the fourth quarter. IHT Wealth Management LLC now owns 71,858 shares of the company’s stock valued at $645,000 after buying an additional 13,407 shares during the last quarter. Finally, Evolve Private Wealth LLC purchased a new stake in Destra Multi-Alternative Fund in the fourth quarter valued at about $461,000.

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.