Short Interest in Digital Asset Acquisition Corp. (NASDAQ:DAAQU) Expands By 172.3%

Digital Asset Acquisition Corp. (NASDAQ:DAAQU) saw a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 1,868 shares, a growth of 172.3% from the May 31st total of 686 shares. Based on an average daily volume of 356 shares, the short-interest ratio is presently 5.2 days.

Hedge Funds Weigh In On Digital Asset Acquisition

A hedge fund recently bought a new stake in Digital Asset Acquisition stock. Parallax Volatility Advisers L.P. bought a new position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 14,000 shares of the company’s stock, valued at approximately $148,000.

Digital Asset Acquisition Stock Performance

DAAQU stock opened at $10.55 on Monday. Digital Asset Acquisition has a 52-week low of $10.10 and a 52-week high of $11.95. The stock’s fifty day simple moving average is $10.52 and its 200-day simple moving average is $10.48.

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.