Berkley W R Corp Makes New Investment in Digital Asset Acquisition Corp. $DAAQ

Key Points

• Berkley W R Corp acquired 761,331 shares of Digital Asset Acquisition Corp. in the first quarter, valued at approximately $7.8 million and representing a 4.41% stake.
• Several other institutional investors increased their DAAQ positions, including Radcliffe Capital Management, which expanded its stake by 267.4% during the fourth quarter.
• Digital Asset Acquisition holds a consensus “Sell” rating, while its shares opened at $10.41 and recently reported quarterly EPS of $0.05. The SPAC has not yet selected a business-combination target.

Berkley W R Corp acquired a new stake in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 761,331 shares of the company's stock, valued at approximately $7,796,000. Berkley W R Corp owned 4.41% of Digital Asset Acquisition as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of DAAQ. Alberta Investment Management Corp purchased a new position in shares of Digital Asset Acquisition in the fourth quarter worth approximately $5,610,000. Radcliffe Capital Management L.P. grew its stake in Digital Asset Acquisition by 267.4% during the fourth quarter. Radcliffe Capital Management L.P. now owns 474,579 shares of the company's stock valued at $4,822,000 after acquiring an additional 345,411 shares in the last quarter. Verition Fund Management LLC grew its position in shares of Digital Asset Acquisition by 73.7% during the fourth quarter. Verition Fund Management LLC now owns 338,914 shares of the company's stock valued at $3,457,000 after purchasing an additional 143,758 shares in the last quarter. Meteora Capital LLC increased its stake in Digital Asset Acquisition by 60.6% in the 4th quarter. Meteora Capital LLC now owns 237,120 shares of the company's stock worth $2,409,000 after acquiring an additional 89,518 shares during the last quarter. Finally, Rivernorth Capital Management LLC increased its position in Digital Asset Acquisition by 33.6% in the fourth quarter. Rivernorth Capital Management LLC now owns 198,852 shares of the company's stock worth $2,020,000 after purchasing an additional 50,026 shares during the last quarter.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a "sell (d-)" rating on shares of Digital Asset Acquisition in a research note on Thursday, June 4th. One investment analyst has rated the stock with a Sell rating, According to MarketBeat, Digital Asset Acquisition presently has a consensus rating of "Sell".

Digital Asset Acquisition Trading Up 0.0%

Shares of DAAQ opened at $10.41 on Monday. The company has a 50-day moving average of $10.37 and a 200 day moving average of $10.29. Digital Asset Acquisition Corp. has a 1-year low of $10.10 and a 1-year high of $10.54.

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

Digital Asset Acquisition Profile

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.

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