Digital Asset Acquisition Corp. (NASDAQ:DAAQ) Shares Shorted: Short Interest Down 44.0% in October

Digital Asset Acquisition Corp. (NASDAQ:DAAQ) saw a large drop in short interest in the month of October. As of October 15th, there was short interest totaling 1,917 shares, a drop of 44.0% from the September 30th total of 3,424 shares. Based on an average trading volume of 88,454 shares, the days-to-cover ratio is currently 0.0 days. Approximately 0.0% of the shares of the company are sold short.

Digital Asset Acquisition Stock Performance

Shares of NASDAQ:DAAQ traded up $0.02 during midday trading on Friday, reaching $10.50. The company’s stock had a trading volume of 1,193 shares, compared to its average volume of 98,852. Digital Asset Acquisition has a fifty-two week low of $6.60 and a fifty-two week high of $10.51. The business’s fifty day simple moving average is $10.46 and its 200-day simple moving average is $10.20.

Digital Asset Acquisition (NASDAQ:DAAQ) last announced its earnings results on Monday, August 3rd. The company reported $0.06 earnings per share (EPS) for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised shares of Digital Asset Acquisition from a “sell (d-)” rating to a “sell (d)” rating in a report on Tuesday, August 11th. One research analyst has rated the stock with a Sell rating. According to MarketBeat.com, the company currently has an average rating of “Sell”.

Institutional Investors Weigh In On Digital Asset Acquisition

An institutional investor recently bought a new position in Digital Asset Acquisition stock. Sona Asset Management US LLC bought a new position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ) in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund bought 255,300 shares of the company’s stock, valued at approximately $2,614,000. Sona Asset Management US LLC owned about 1.48% of Digital Asset Acquisition as of its most recent SEC filing.

About Digital Asset Acquisition

Digital Asset Acquisition Corp. (NASDAQ: DAAQ) was a special purpose acquisition company (SPAC) formed to identify and complete a business combination with one or more companies. Rather than operating a traditional business, the company was established to raise capital through a public offering and use those proceeds to pursue a merger, acquisition, share exchange or similar transaction.

The company’s stated focus was on opportunities connected with digital assets, financial technology and related technology sectors.