Short Interest in Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Expands By 118.0%

by · The Markets Daily

Digital Asset Acquisition Corp. (NASDAQ:DAAQ – Get Free Report) was the recipient of a significant increase in short interest during the month of May. As of May 15th, there was short interest totaling 10,915 shares, an increase of 118.0% from the April 30th total of 5,008 shares. Based on an average daily volume of 51,751 shares, the short-interest ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are sold short.

Institutional Trading of Digital Asset Acquisition

Several institutional investors have recently added to or reduced their stakes in DAAQ. Cannon Global Investment Management LLC bought a new stake in Digital Asset Acquisition during the fourth quarter valued at $168,000. Wolverine Asset Management LLC boosted its holdings in shares of Digital Asset Acquisition by 36.0% during the fourth quarter. Wolverine Asset Management LLC now owns 162,613 shares of the company’s stock valued at $1,652,000 after acquiring an additional 43,012 shares during the period. ABC Arbitrage SA acquired a new position in shares of Digital Asset Acquisition during the fourth quarter valued at $254,000. Periscope Capital Inc. boosted its holdings in shares of Digital Asset Acquisition by 317.4% during the fourth quarter. Periscope Capital Inc. now owns 150,000 shares of the company’s stock valued at $1,524,000 after acquiring an additional 114,062 shares during the period. Finally, DLD Asset Management LP boosted its holdings in shares of Digital Asset Acquisition by 79.7% during the fourth quarter. DLD Asset Management LP now owns 126,399 shares of the company’s stock valued at $1,284,000 after acquiring an additional 56,046 shares during the period.

Digital Asset Acquisition Price Performance

DAAQ stock traded up $0.02 during trading on Monday, hitting $10.33. 71,707 shares of the company’s stock traded hands, compared to its average volume of 109,494. Digital Asset Acquisition has a 52 week low of $10.05 and a 52 week high of $11.24. The firm’s fifty day moving average price is $10.28.

Digital Asset Acquisition (NASDAQ:DAAQ – Get Free Report) last released its earnings results on Friday, May 15th. The company reported $0.05 earnings per share for the quarter.

About Digital Asset Acquisition

(Get Free Report)

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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