Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Sees Large Growth in Short Interest

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) saw a large increase in short interest during the month of July. As of July 31st, there was short interest totaling 26,977 shares, an increase of 64.3% from the July 15th total of 16,420 shares. Approximately 0.2% of the company’s stock are sold short. Based on an average daily trading volume, of 23,501 shares, the days-to-cover ratio is presently 1.1 days.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of Digital Asset Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One investment analyst has rated the stock with a Sell rating, According to data from MarketBeat, the stock has an average rating of “Sell”.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of DAAQ. Berkley W R Corp bought a new stake in shares of Digital Asset Acquisition during the 1st quarter worth approximately $7,796,000. Alberta Investment Management Corp acquired a new stake in shares of Digital Asset Acquisition during the 4th quarter worth approximately $5,610,000. Radcliffe Capital Management L.P. increased its stake in Digital Asset Acquisition by 267.4% in the fourth quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company’s stock valued at $4,822,000 after acquiring an additional 345,411 shares during the last quarter. Sona Asset Management US LLC bought a new position in Digital Asset Acquisition in the first quarter valued at approximately $2,614,000. Finally, Verition Fund Management LLC raised its position in Digital Asset Acquisition by 73.7% during the fourth quarter. Verition Fund Management LLC now owns 338,914 shares of the company’s stock valued at $3,457,000 after purchasing an additional 143,758 shares in the last quarter.

Digital Asset Acquisition Price Performance

Shares of DAAQ traded down $0.01 during trading hours on Monday, hitting $10.41. The company had a trading volume of 26,208 shares, compared to its average volume of 89,643. Digital Asset Acquisition has a 12 month low of $6.60 and a 12 month high of $10.49. The business has a fifty day moving average of $9.82 and a 200-day moving average of $10.10.

Digital Asset Acquisition (NASDAQ:DAAQ) last issued its quarterly earnings data on Monday, August 3rd. The company reported $0.06 EPS for the quarter.

About Digital Asset Acquisition

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.