DLD Asset Management LP Lowers Stock Position in Digital Asset Acquisition Corp. $DAAQ

Key Points

• DLD Asset Management LP sharply reduced its position in Digital Asset Acquisition Corp. by 76.6% in the first quarter, selling 96,778 shares and leaving it with 29,621 shares worth about $303,000.
• Several other institutional investors also moved in the stock recently, including new positions from Cannon Global Investment Management, ABC Arbitrage SA, Virtu Financial, and Lineage Point Capital.
• Analysts remain cautious on DAAQ: Weiss Ratings reiterated a “sell (d-)” rating, and MarketBeat data shows a consensus rating of “Sell.”

DLD Asset Management LP cut its stake in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ - Free Report) by 76.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 29,621 shares of the company's stock after selling 96,778 shares during the quarter. DLD Asset Management LP owned approximately 0.17% of Digital Asset Acquisition worth $303,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Cannon Global Investment Management LLC purchased a new position in Digital Asset Acquisition during the fourth quarter valued at approximately $168,000. ABC Arbitrage SA purchased a new position in shares of Digital Asset Acquisition in the fourth quarter valued at about $254,000. Readystate Asset Management LP lifted its position in shares of Digital Asset Acquisition by 4.7% in the fourth quarter. Readystate Asset Management LP now owns 26,174 shares of the company's stock valued at $267,000 after acquiring an additional 1,174 shares in the last quarter. Virtu Financial LLC bought a new position in shares of Digital Asset Acquisition in the fourth quarter worth about $869,000. Finally, Lineage Point Capital LP bought a new position in shares of Digital Asset Acquisition in the fourth quarter worth about $1,016,000.

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 analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the company currently has a consensus rating of "Sell".

Digital Asset Acquisition Trading Down 0.0%

NASDAQ:DAAQ opened at $10.39 on Thursday. The business's 50-day moving average is $10.36 and its 200 day moving average is $10.28. Digital Asset Acquisition Corp. has a 12 month low of $10.10 and a 12 month high of $10.65.

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

About Digital Asset Acquisition

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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