Short Interest in Digital Asset Acquisition Corp. (NASDAQ:DAAQU) Declines By 56.7%

Digital Asset Acquisition Corp. (NASDAQ:DAAQU) was the recipient of a large decline in short interest during the month of January. As of January 15th, there was short interest totaling 974 shares, a decline of 56.7% from the December 31st total of 2,252 shares. Based on an average daily volume of 580 shares, the days-to-cover ratio is currently 1.7 days. Based on an average daily volume of 580 shares, the days-to-cover ratio is currently 1.7 days.

Hedge Funds Weigh In On Digital Asset Acquisition

Hedge funds and other institutional investors have recently bought and sold shares of the business. Parallax Volatility Advisers L.P. acquired a new stake in shares of Digital Asset Acquisition in the third quarter valued at approximately $148,000. Clear Street Group Inc. bought a new position in Digital Asset Acquisition during the third quarter worth $977,000. Harraden Circle Investments LLC acquired a new position in shares of Digital Asset Acquisition in the second quarter valued at $540,000. Clear Street LLC bought a new position in shares of Digital Asset Acquisition in the second quarter valued at about $124,000. Finally, DLD Asset Management LP bought a new position in shares of Digital Asset Acquisition in the second quarter valued at about $507,000.

Digital Asset Acquisition Price Performance

Shares of NASDAQ:DAAQU traded up $0.02 during midday trading on Thursday, hitting $10.42. The stock had a trading volume of 19,409 shares, compared to its average volume of 4,944. The business’s 50-day simple moving average is $10.48 and its 200-day simple moving average is $10.59. Digital Asset Acquisition has a 12 month low of $10.06 and a 12 month high of $11.70.

About Digital Asset Acquisition

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.