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

Destra Multi-Alternative Fund (NYSE:DMA) was the target of a large increase in short interest during the month of February. As of February 27th, there was short interest totaling 31,673 shares, an increase of 137.7% from the February 12th total of 13,327 shares. Based on an average daily trading volume, of 48,024 shares, the days-to-cover ratio is currently 0.7 days. Based on an average daily trading volume, of 48,024 shares, the days-to-cover ratio is currently 0.7 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. purchased a new stake in Destra Multi-Alternative Fund in the second quarter worth approximately $25,000. Raymond James Financial Inc. purchased a new stake in Destra Multi-Alternative Fund during the 2nd quarter valued at $50,000. Osaic Holdings Inc. raised its stake in Destra Multi-Alternative Fund by 19.4% during the 2nd quarter. Osaic Holdings Inc. now owns 29,025 shares of the company’s stock valued at $254,000 after buying an additional 4,716 shares during the last quarter. Perigon Wealth Management LLC bought a new position in shares of Destra Multi-Alternative Fund during the 3rd quarter valued at $112,000. Finally, Blue Bell Private Wealth Management LLC lifted its holdings in shares of Destra Multi-Alternative Fund by 33.4% during the 3rd quarter. Blue Bell Private Wealth Management LLC now owns 231,459 shares of the company’s stock valued at $2,000,000 after buying an additional 58,006 shares during the period.

Destra Multi-Alternative Fund Stock Performance

DMA opened at $8.16 on Thursday. The company’s 50-day simple moving average is $8.75 and its two-hundred day simple moving average is $8.75. Destra Multi-Alternative Fund has a 52-week low of $7.17 and a 52-week high of $9.15.

Destra Multi-Alternative Fund Company Profile

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.