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  4. [Form 4] Destra Multi-Alternative Fund Insider Trading Activity

Saba Capital, Boaz Weinstein Buy 27,923 DMA Shares at $8.57

Destra Multi-Alternative Fund (DMA) insiders reported an insider purchase on 09/05/2025.

Filing Impact
(Moderate)
Filing Sentiment
(Positive)
Form Type
4

Rhea-AI Filing Summary

Destra Multi-Alternative Fund (DMA) insiders reported an insider purchase on 09/05/2025. Saba Capital Management, L.P. and Boaz Weinstein disclosed acquisition of 27,923 shares of DMA common stock at $8.57 per share under transaction code P (purchase). After the reported transaction, the filing shows 2,166,195 shares beneficially owned indirectly by the reporting person(s).

Positive

  • Insider purchase of 27,923 shares at $8.57 indicates management/major holder is buying stock
  • Saba Capital Management reported increased indirect beneficial ownership to 2,166,195 shares

Negative

  • None.

Insights

TL;DR: Insider purchase of 27,923 DMA shares at $8.57 signals a direct cash purchase by a significant holder.

The filing documents a plain purchase transaction coded P on 09/05/2025 for 27,923 shares at $8.57. The buyer is Saba Capital Management, L.P., reported as a director and 10% owner, with beneficial indirect ownership of 2,166,195 shares after the trade. From a market-impact perspective, this is a straightforward insider buy that increases the reporting person's stake; it does not include derivatives, dispositions, or other complex instruments.

TL;DR: Purchase by a director and 10% owner reflects alignment of a major shareholder with the issuer but lacks contextual detail.

The Form 4 shows direct reporting by Saba Capital Management and Boaz Weinstein, both identified as directors and 10% owners. The signature block is present and dated 09/08/2025. The filing contains no amendment history, no plan or 10b5-1 disclosure box checked, and no explanatory footnotes. As filed, it documents compliance with Section 16 reporting for a non-derivative purchase.

Insider Saba Capital Management, L.P., Weinstein Boaz
Role 10% Owner | 10% Owner
Bought 27,923 shs ($239K)
Type Security Shares Price Value
Purchase Common Stock 27,923 $8.57 $239K
Holdings After Transaction: Common Stock — 2,166,195 shares (Indirect, -)

FAQ

What transaction did Saba Capital (DMA) report on Form 4?
The Form 4 reports a purchase of 27,923 shares of DMA common stock at $8.57 per share on 09/05/2025.

How many DMA shares does the reporting person beneficially own after the transaction?
The filing shows 2,166,195 shares beneficially owned indirectly following the reported transaction.

Who signed the Form 4 for the reporting entities?
The filing is signed on behalf of Saba Capital Management, L.P. by Zachary Gindes and also signed by Boaz Weinstein, dated 09/08/2025.

Does the Form 4 report any derivative transactions or sales?
No. Table II (derivatives) shows no entries and Table I records only a non-derivative purchase; there are no dispositions reported.

What is the transaction code used in the Form 4?
The transaction is reported with code P, indicating a purchase of the issuer's securities.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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SEC Form 4
FORM 4 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0287
Estimated average burden
hours per response: 0.5
Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.
1. Name and Address of Reporting Person*
Saba Capital Management, L.P.
(Last) (First) (Middle)
405 LEXINGTON AVENUE
58TH FLOOR
(Street)
NEW YORK NY 10174
(City) (State) (Zip)
2. Issuer Name and Ticker or Trading Symbol
Destra Multi-Alternative Fund [ DMA ] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
Director X 10% Owner
Officer (give title below) Other (specify below)
3. Date of Earliest Transaction (Month/Day/Year)
09/05/2025
4. If Amendment, Date of Original Filed (Month/Day/Year)
 6. Individual or Joint/Group Filing (Check Applicable Line)
Form filed by One Reporting Person
X Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3) 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction Code (Instr. 8) 4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5) 5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4) 6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price
Common Stock 09/05/2025 P 27,923 A $8.57 2,166,195 I -
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3) 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction Code (Instr. 8) 5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5) 6. Date Exercisable and Expiration Date (Month/Day/Year) 7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4) 8. Price of Derivative Security (Instr. 5) 9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
1. Name and Address of Reporting Person*
Saba Capital Management, L.P.
(Last) (First) (Middle)
405 LEXINGTON AVENUE
58TH FLOOR
(Street)
NEW YORK NY 10174
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
1. Name and Address of Reporting Person*
Weinstein Boaz
(Last) (First) (Middle)
405 LEXINGTON AVENUE
58TH FLOOR
(Street)
NEW YORK NY 10174
(City) (State) (Zip)
Relationship of Reporting Person(s) to Issuer
Director X 10% Owner
Officer (give title below) Other (specify below)
Explanation of Responses:
Saba Capital Management, L.P. By: Zachary Gindes 09/08/2025
Boaz Weinstein 09/08/2025
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR