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

Digital Asset Acquisition Corp. (NASDAQ:DAAQU) saw a significant growth in short interest in 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 trading volume, of 356 shares, the short-interest ratio is presently 5.2 days.

Digital Asset Acquisition Price Performance

Digital Asset Acquisition stock remained flat at $10.57 during midday trading on Tuesday. The company had a trading volume of 129 shares, compared to its average volume of 2,290. The stock’s 50-day moving average price is $10.52 and its 200-day moving average price is $10.48. Digital Asset Acquisition has a twelve month low of $10.10 and a twelve month high of $11.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new position in Digital Asset Acquisition stock. Parallax Volatility Advisers L.P. bought a new stake in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQU) in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund bought 14,000 shares of the company’s stock, valued at approximately $148,000.

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.