Destra Multi-Alternative Fund (NYSE:DMA) Sees Significant Growth in Short Interest

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 5,439 shares, a growth of 139.2% from the April 30th total of 2,274 shares. Based on an average trading volume of 27,948 shares, the days-to-cover ratio is currently 0.2 days.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Institutional investors and hedge funds have recently made changes to their positions in the stock. Absolute Investment Advisers LLC raised 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 valued at $2,220,000 after acquiring an additional 13,117 shares in the last quarter. Blue Bell Private Wealth Management LLC grew its holdings in Destra Multi-Alternative Fund by 3.1% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 238,649 shares of the company’s stock worth $2,141,000 after acquiring an additional 7,190 shares in the last quarter. Closed End Fund Advisors Inc. purchased a new stake in shares of Destra Multi-Alternative Fund in the 4th quarter valued at approximately $1,801,000. Noble Wealth Management PBC increased its position in shares of Destra Multi-Alternative Fund by 32.6% in the 4th quarter. Noble Wealth Management PBC now owns 191,346 shares of the company’s stock valued at $1,716,000 after purchasing an additional 47,000 shares during the last quarter. Finally, North Ground Capital raised its holdings in shares of Destra Multi-Alternative Fund by 31.0% in the 4th quarter. North Ground Capital now owns 77,310 shares of the company’s stock valued at $693,000 after purchasing an additional 18,304 shares in the last quarter.

Destra Multi-Alternative Fund Trading Up 0.6%

NYSE:DMA traded up $0.04 during midday trading on Friday, reaching $7.19. The company had a trading volume of 21,159 shares, compared to its average volume of 31,775. Destra Multi-Alternative Fund has a 12-month low of $6.94 and a 12-month high of $9.15. The stock’s fifty day simple moving average is $7.67 and its 200-day simple moving average is $8.38.

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.