Sona Asset Management US LLC Purchases New Holdings in Digital Asset Acquisition Corp. $DAAQ

Key Points

• Sona Asset Management US LLC acquired 255,300 shares of Digital Asset Acquisition Corp. in the first quarter, valued at approximately $2.6 million and representing a 1.48% stake.
• Several other institutional investors increased their positions, including Wolverine Asset Management and Schonfeld Strategic Advisors, which raised their holdings by 36.0% and 62.3%, respectively.
• Digital Asset Acquisition carries an average analyst rating of “Sell”. Its shares opened at $10.41, within a 12-month range of $10.10 to $10.54, while the company reported quarterly earnings of $0.05 per share.

Sona Asset Management US LLC purchased a new position in shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQ - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm purchased 255,300 shares of the company's stock, valued at approximately $2,614,000. Sona Asset Management US LLC owned 1.48% of Digital Asset Acquisition at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Readystate Asset Management LP grew its stake in Digital Asset Acquisition by 4.7% in the 4th quarter. Readystate Asset Management LP now owns 26,174 shares of the company's stock valued at $267,000 after purchasing an additional 1,174 shares during the period. Cannon Global Investment Management LLC raised its stake in shares of Digital Asset Acquisition by 17.6% during the 1st quarter. Cannon Global Investment Management LLC now owns 19,400 shares of the company's stock worth $199,000 after purchasing an additional 2,900 shares during the period. ABC Arbitrage SA bought a new stake in shares of Digital Asset Acquisition during the 4th quarter worth $254,000. Wolverine Asset Management LLC boosted its holdings in shares of Digital Asset Acquisition by 36.0% in the 4th quarter. Wolverine Asset Management LLC now owns 162,613 shares of the company's stock worth $1,652,000 after buying an additional 43,012 shares during the last quarter. Finally, Schonfeld Strategic Advisors LLC boosted its holdings in shares of Digital Asset Acquisition by 62.3% in the 4th quarter. Schonfeld Strategic Advisors LLC now owns 130,046 shares of the company's stock worth $1,321,000 after buying an additional 49,923 shares during the last quarter.

Analysts Set New Price Targets

Separately, Weiss Ratings restated a "sell (d-)" rating on shares of Digital Asset Acquisition in a research report on Thursday, June 4th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, Digital Asset Acquisition has an average rating of "Sell".

Digital Asset Acquisition Trading Up 0.0%

Digital Asset Acquisition stock opened at $10.41 on Monday. Digital Asset Acquisition Corp. has a 12 month low of $10.10 and a 12 month high of $10.54. The business's 50 day simple moving average is $10.37 and its 200 day simple moving average is $10.29.

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 for the quarter.

Digital Asset Acquisition Company 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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