Digital Asset Acquisition Corp. (NASDAQ:DAAQU) Sees Large Decline in Short Interest

Digital Asset Acquisition Corp. (NASDAQ:DAAQU) was the target of a significant drop in short interest in January. As of January 30th, there was short interest totaling 777 shares, a drop of 20.2% from the January 15th total of 974 shares. Based on an average daily trading volume, of 3,608 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily trading volume, of 3,608 shares, the days-to-cover ratio is presently 0.2 days.

Digital Asset Acquisition Stock Down 0.3%

Shares of DAAQU stock traded down $0.03 on Tuesday, reaching $10.38. The company had a trading volume of 300 shares, compared to its average volume of 3,100. The business’s 50-day moving average is $10.45 and its 200 day moving average is $10.55. Digital Asset Acquisition has a one year low of $10.06 and a one year high of $11.70.

Institutional Trading of Digital Asset Acquisition

A number of hedge funds and other institutional investors have recently modified their holdings of DAAQU. Wealthspring Capital LLC bought a new stake in Digital Asset Acquisition in the second quarter valued at approximately $2,231,000. Alberta Investment Management Corp bought a new stake in shares of Digital Asset Acquisition in the 2nd quarter valued at $5,990,000. DLD Asset Management LP acquired a new stake in shares of Digital Asset Acquisition during the second quarter worth $507,000. Clear Street LLC acquired a new stake in shares of Digital Asset Acquisition during the second quarter worth $124,000. Finally, Harraden Circle Investments LLC acquired a new position in Digital Asset Acquisition in the second quarter valued at $540,000.

About Digital Asset Acquisition

Digital Asset Acquisition Corp. (NASDAQ: DAAQU) is a special purpose acquisition company (SPAC) incorporated as an exempted company in the Cayman Islands. The company completed its initial public offering of units and is listed on the NASDAQ Capital Market under the ticker DAAQU. As a blank-check vehicle, its primary objective is to identify, acquire or merge with one or more businesses operating in the digital asset ecosystem within a prescribed timeframe.

The company’s investment focus spans a broad array of digital-asset related activities, including blockchain infrastructure, decentralized finance (DeFi) platforms, digital asset custody and security solutions, tokenization services, and related financial technologies.