Destra Multi-Alternative Fund (NYSE:DMA) Increases Dividend to $0.08 Per Share

Destra Multi-Alternative Fund (NYSE:DMA) declared an annual dividend on Tuesday, May 20th, Wall Street Journal reports. Stockholders of record on Wednesday, June 18th will be given a dividend of 0.0825 per share on Monday, June 30th. This represents a dividend yield of 3.1%. The ex-dividend date is Wednesday, June 18th. This is a 13.8% increase from Destra Multi-Alternative Fund’s previous annual dividend of $0.07.

Destra Multi-Alternative Fund Trading Up 1.5%

Shares of Destra Multi-Alternative Fund stock traded up $0.13 on Tuesday, hitting $9.02. 53,082 shares of the company traded hands, compared to its average volume of 27,398. Destra Multi-Alternative Fund has a 52 week low of $7.09 and a 52 week high of $9.16. The business has a 50-day simple moving average of $8.27 and a 200 day simple moving average of $8.54.

Insiders Place Their Bets

In related news, major shareholder Saba Capital Management, L.P. bought 42,913 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were purchased at an average price of $8.51 per share, with a total value of $365,189.63. Following the transaction, the insider now owns 1,935,159 shares in the company, valued at $16,468,203.09. This trade represents a 2.27% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have bought a total of 184,089 shares of company stock valued at $1,541,368 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.