Digital Asset Acquisition (NASDAQ:DAAQU) Stock Price Down 10.9% – Here’s Why

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

Digital Asset Acquisition Trading Up 34.6%

The stock has a fifty day moving average of $10.09 and a 200-day moving average of $10.34.

Hedge Funds Weigh In On Digital Asset Acquisition

An institutional investor recently raised its position in Digital Asset Acquisition stock. Clear Street Group Inc. lifted its holdings in Digital Asset Acquisition Corp. (NASDAQ:DAAQU) by 38.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 128,279 shares of the company’s stock after purchasing an additional 35,626 shares during the quarter. Clear Street Group Inc.’s holdings in Digital Asset Acquisition were worth $1,320,000 as of its most recent SEC filing.

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.