Saba Capital Management L.P. decreased its position in Digital Asset Acquisition Corp. (NASDAQ:DAAQ – Free Report) by 29.4% during the first quarter, Holdings Channel reports. The firm owned 600,000 shares of the company’s stock after selling 250,000 shares during the quarter. Saba Capital Management L.P.’s holdings in Digital Asset Acquisition were worth $6,144,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in the company. Sona Asset Management US LLC purchased a new stake in shares of Digital Asset Acquisition in the 1st quarter valued at $2,614,000. Berkley W R Corp purchased a new position in Digital Asset Acquisition during the 1st quarter valued at about $7,796,000. Cannon Global Investment Management LLC grew its position in Digital Asset Acquisition by 17.6% in the 1st quarter. Cannon Global Investment Management LLC now owns 19,400 shares of the company’s stock valued at $199,000 after acquiring an additional 2,900 shares in the last quarter. Lineage Point Capital LP acquired a new position in Digital Asset Acquisition in the 4th quarter valued at about $1,016,000. Finally, Virtu Financial LLC purchased a new stake in Digital Asset Acquisition during the fourth quarter worth about $869,000.
Digital Asset Acquisition Stock Performance
NASDAQ:DAAQ opened at $10.41 on Tuesday. Digital Asset Acquisition Corp. has a 52 week low of $10.10 and a 52 week high of $10.51. The company has a fifty day simple moving average of $10.37 and a two-hundred day simple moving average of $10.29.
Analyst Upgrades and Downgrades
Separately, Weiss Ratings reissued a “sell (d-)” rating on shares of Digital Asset Acquisition in a research report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Digital Asset Acquisition has an average rating of “Sell”.
Check Out Our Latest Stock Report on DAAQ
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.
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