Digital Asset Acquisition (NASDAQ:DAAQ) Shares Down 0% – Should You Sell?

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) shares dropped 0% during mid-day trading on Wednesday . The stock traded as low as $10.31 and last traded at $10.3150. Approximately 11,993 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 50,973 shares. The stock had previously closed at $10.32.

Digital Asset Acquisition Trading Down 0.0%

The stock’s fifty day moving average price is $10.27.

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

Hedge Funds Weigh In On Digital Asset Acquisition

Several institutional investors have recently bought and sold shares of DAAQ. Cannon Global Investment Management LLC acquired a new position in Digital Asset Acquisition in the 4th quarter valued at about $168,000. Wolverine Asset Management LLC grew its position in Digital Asset Acquisition by 36.0% in the 4th quarter. Wolverine Asset Management LLC now owns 162,613 shares of the company’s stock valued at $1,652,000 after acquiring an additional 43,012 shares in the last quarter. ABC Arbitrage SA acquired a new position in Digital Asset Acquisition in the 4th quarter valued at about $254,000. Periscope Capital Inc. grew its position in Digital Asset Acquisition by 317.4% in 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 in the last quarter. Finally, DLD Asset Management LP grew its position in Digital Asset Acquisition by 79.7% in the 4th quarter. DLD Asset Management LP now owns 126,399 shares of the company’s stock valued at $1,284,000 after acquiring an additional 56,046 shares in the last 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.