Destra Multi-Alternative Fund (NYSE:DMA) Short Interest Down 26.3% in August

Destra Multi-Alternative Fund (NYSE:DMA) was the recipient of a significant decline in short interest during the month of August. As of August 15th, there was short interest totalling 7,000 shares, a decline of 26.3% from the July 31st total of 9,500 shares. Based on an average trading volume of 38,200 shares, the short-interest ratio is currently 0.2 days.

Destra Multi-Alternative Fund Price Performance

NYSE DMA opened at $8.29 on Friday. The stock’s fifty day moving average is $8.18 and its two-hundred day moving average is $7.70. Destra Multi-Alternative Fund has a fifty-two week low of $5.69 and a fifty-two week high of $8.56.

Insider Transactions at Destra Multi-Alternative Fund

In other news, major shareholder Saba Capital Management, L.P. purchased 8,757 shares of the stock in a transaction dated Tuesday, July 2nd. The shares were purchased at an average cost of $8.04 per share, with a total value of $70,406.28. Following the completion of the purchase, the insider now directly owns 1,272,376 shares of the company’s stock, valued at approximately $10,229,903.04. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders have bought 370,988 shares of company stock valued at $3,071,652 over the last ninety days.

Hedge Funds Weigh In On Destra Multi-Alternative Fund

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quarry LP boosted its stake in Destra Multi-Alternative Fund by 5.8% during the second quarter. Quarry LP now owns 178,636 shares of the company’s stock worth $1,442,000 after buying an additional 9,762 shares during the last quarter. Almitas Capital LLC boosted its stake in Destra Multi-Alternative Fund by 49.0% during the second quarter. Almitas Capital LLC now owns 514,703 shares of the company’s stock worth $4,154,000 after buying an additional 169,372 shares during the last quarter. Blue Bell Private Wealth Management LLC boosted its stake in Destra Multi-Alternative Fund by 10.4% during the second quarter. Blue Bell Private Wealth Management LLC now owns 71,309 shares of the company’s stock worth $575,000 after buying an additional 6,733 shares during the last quarter. Nomura Holdings Inc. acquired a new position in Destra Multi-Alternative Fund during the fourth quarter worth $83,000. Finally, Bulldog Investors LLP raised its position in Destra Multi-Alternative Fund by 28.9% in the fourth quarter. Bulldog Investors LLP now owns 216,567 shares of the company’s stock valued at $1,349,000 after purchasing an additional 48,598 shares during the period.

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.