Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Short Interest Up 118.0% in May

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) was the target of a significant growth in short interest in May. As of May 15th, there was short interest totaling 10,915 shares, a growth 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 currently 0.2 days. Approximately 0.1% of the company’s stock are sold short.

Hedge Funds Weigh In On Digital Asset Acquisition

Institutional investors and hedge funds have recently made changes to their positions in the business. Cannon Global Investment Management LLC bought a new position in shares of Digital Asset Acquisition during the fourth quarter valued at approximately $168,000. ABC Arbitrage SA bought a new position in shares of Digital Asset Acquisition during the fourth quarter valued at approximately $254,000. Readystate Asset Management LP increased its stake in shares of Digital Asset Acquisition by 4.7% during the fourth quarter. Readystate Asset Management LP now owns 26,174 shares of the company’s stock valued at $267,000 after purchasing an additional 1,174 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Digital Asset Acquisition during the fourth quarter valued at approximately $869,000. Finally, Lineage Point Capital LP bought a new position in shares of Digital Asset Acquisition during the fourth quarter valued at approximately $1,016,000.

Digital Asset Acquisition Price Performance

Shares of NASDAQ DAAQ remained flat at $10.33 on Tuesday. 71,707 shares of the company’s stock were exchanged, compared to its average volume of 39,201. Digital Asset Acquisition has a fifty-two week low of $10.05 and a fifty-two week high of $11.24. The stock has a 50 day simple moving average of $10.28.

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

Digital Asset Acquisition Company Profile

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.