Short Interest in Destra Multi-Alternative Fund (NYSE:DMA) Drops By 48.6%

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a significant drop in short interest in the month of June. As of June 15th, there was short interest totaling 17,681 shares, a drop of 48.6% from the May 31st total of 34,422 shares. Based on an average daily volume of 15,687 shares, the days-to-cover ratio is presently 1.1 days.

Destra Multi-Alternative Fund Stock Performance

Shares of NYSE:DMA opened at $7.45 on Tuesday. Destra Multi-Alternative Fund has a 52-week low of $6.94 and a 52-week high of $9.15. The business has a fifty day moving average of $7.43 and a two-hundred day moving average of $8.19.

Institutional Trading of Destra Multi-Alternative Fund

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in shares of Destra Multi-Alternative Fund in the second quarter valued at about $25,000. Raymond James Financial Inc. purchased a new stake in Destra Multi-Alternative Fund in the 2nd quarter valued at approximately $50,000. Cetera Investment Advisers increased its position 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 worth $156,000 after purchasing an additional 5,952 shares during the period. Altium Capital Management LLC acquired a new position in Destra Multi-Alternative Fund during the 4th quarter worth approximately $220,000. Finally, Osaic Holdings Inc. raised its stake in shares of Destra Multi-Alternative Fund by 19.4% during the 2nd quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock worth $254,000 after buying 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.