Shares of Destra Multi-Alternative Fund (NYSE:DMA – Get Free Report) shot up 0.3% during mid-day trading on Thursday. The stock traded as high as $7.51 and last traded at $7.4850. 3,623 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 25,039 shares. The stock had previously closed at $7.46.
Destra Multi-Alternative Fund Price Performance
The company has a 50-day moving average price of $7.58 and a two-hundred day moving average price of $7.60.
Hedge Funds Weigh In On Destra Multi-Alternative Fund
A number of institutional investors and hedge funds have recently modified their holdings of the business. Absolute Investment Advisers LLC lifted its position in shares of Destra Multi-Alternative Fund by 5.0% during the 1st 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 during the period. Altium Capital Management LLC increased its stake 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 valued at $444,000 after purchasing an additional 30,164 shares in the last quarter. Alpine Global Management LLC raised its holdings in shares of Destra Multi-Alternative Fund by 19.4% during the fourth quarter. Alpine Global Management LLC now owns 37,074 shares of the company’s stock valued at $333,000 after purchasing an additional 6,018 shares during the period. Finally, Weaver Consulting Group bought a new position in shares of Destra Multi-Alternative Fund during the 3rd quarter worth about $79,000.
About Destra Multi-Alternative Fund
Destra Multi-Alternative Fund (NYSE: DMA) is a closed-end investment fund that seeks to provide investors with diversified exposure to alternative investment strategies. Rather than operating an industrial or commercial business, the fund invests its assets in a portfolio managed to pursue long-term total return through a range of nontraditional investments.
The fund may allocate capital across multiple alternative asset classes and strategies, including private funds, other investment companies, private credit, private equity, real assets and other opportunistic investments.
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