Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Sees Significant Decrease in Short Interest

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 4,317 shares, a decline of 87.9% from the August 15th total of 35,594 shares. Approximately 0.0% of the company’s shares are short sold. Based on an average daily trading volume, of 11,379 shares, the days-to-cover ratio is presently 0.4 days.

Institutional Trading of Digital Asset Acquisition

Large investors have recently bought and sold shares of the business. Berkley W R Corp bought a new position in shares of Digital Asset Acquisition in the 1st quarter worth about $7,796,000. Alberta Investment Management Corp bought a new stake in shares of Digital Asset Acquisition during the 4th quarter valued at about $5,610,000. Radcliffe Capital Management L.P. grew its stake in Digital Asset Acquisition by 267.4% during the fourth quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company’s stock worth $4,822,000 after purchasing an additional 345,411 shares during the period. Sona Asset Management US LLC acquired a new stake in Digital Asset Acquisition during the first quarter worth approximately $2,614,000. Finally, Verition Fund Management LLC increased its holdings in Digital Asset Acquisition by 73.7% in the fourth quarter. Verition Fund Management LLC now owns 338,914 shares of the company’s stock worth $3,457,000 after purchasing an additional 143,758 shares in the last quarter.

Digital Asset Acquisition Stock Down 0.0%

Shares of NASDAQ DAAQ traded down $0.01 during midday trading on Thursday, reaching $10.44. The stock had a trading volume of 412 shares, compared to its average volume of 52,118. Digital Asset Acquisition has a twelve month low of $6.60 and a twelve month high of $10.49. The company’s 50 day moving average price is $9.84 and its 200 day moving average price is $10.13.

Digital Asset Acquisition (NASDAQ:DAAQ) last posted its quarterly earnings data on Monday, August 3rd. The company reported $0.06 earnings per share for the quarter.

Wall Street Analyst Weigh In

Separately, Weiss Ratings raised Digital Asset Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a research note on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

About Digital Asset Acquisition

We are a special purpose acquisition company incorporated on December 9, 2024 as a Cayman Islands exempted company and formed for the purpose of effecting a merger, amalgamation, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses, which we refer to throughout this prospectus as our initial business combination. We have not selected any business combination target and we have not, nor has anyone on our behalf, initiated any substantive discussions, directly or indirectly, with any business combination target.