Sona Asset Management US LLC Makes New Investment in Digital Asset Acquisition Corp. $DAAQ

Sona Asset Management US LLC bought a new position in Digital Asset Acquisition Corp. (NASDAQ:DAAQ) in the 1st quarter, Holdings Channel.com reports. The institutional investor bought 255,300 shares of the company’s stock, valued at approximately $2,614,000.

Several other hedge funds and other institutional investors also recently modified their holdings of DAAQ. Berkley W R Corp purchased a new stake in shares of Digital Asset Acquisition during the 1st quarter valued at approximately $7,796,000. Alberta Investment Management Corp bought a new position in Digital Asset Acquisition in the 4th quarter worth approximately $5,610,000. Radcliffe Capital Management L.P. grew its stake in Digital Asset Acquisition by 267.4% in the 4th quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company’s stock valued at $4,822,000 after buying an additional 345,411 shares in the last quarter. Verition Fund Management LLC raised its holdings in Digital Asset Acquisition by 73.7% during the 4th quarter. Verition Fund Management LLC now owns 338,914 shares of the company’s stock valued at $3,457,000 after acquiring an additional 143,758 shares during the period. Finally, Periscope Capital Inc. raised its holdings in Digital Asset Acquisition by 317.4% during the 4th quarter. Periscope Capital Inc. now owns 150,000 shares of the company’s stock valued at $1,524,000 after acquiring an additional 114,062 shares during the period.

Digital Asset Acquisition Stock Up 0.0%

DAAQ stock opened at $10.41 on Monday. Digital Asset Acquisition Corp. has a twelve month low of $10.10 and a twelve month high of $10.54. The stock has a 50-day simple moving average of $10.37 and a two-hundred day simple moving average of $10.29.

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of Digital Asset Acquisition in a research report on Thursday, June 4th. One equities research analyst has rated the stock with a Sell rating, According to data from MarketBeat, the company has a consensus rating of “Sell”.

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.