Digital Asset Acquisition (NASDAQ:DAAQU) Stock Price Down 10.9% – What’s Next?

Shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQU) were down 10.9% during trading on Thursday . The stock traded as low as $7.05 and last traded at $7.05. 123 shares were traded during trading, a decline of 94% from the average daily volume of 2,117 shares. The stock had previously closed at $7.91.

Digital Asset Acquisition Price Performance

The company’s 50 day simple moving average is $10.09 and its two-hundred day simple moving average is $10.34.

Hedge Funds Weigh In On Digital Asset Acquisition

A hedge fund recently raised its stake in Digital Asset Acquisition stock. Clear Street Group Inc. increased its position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQU) by 38.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 128,279 shares of the company’s stock after acquiring an additional 35,626 shares during the period. Clear Street Group Inc.’s holdings in Digital Asset Acquisition were worth $1,320,000 as of its most recent filing with the Securities and Exchange Commission.

Digital Asset Acquisition Company Profile

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.