Saba Capital Management L.P. Decreases Stock Holdings in Digital Asset Acquisition Corp. $DAAQ

Saba Capital Management L.P. cut its stake in Digital Asset Acquisition Corp. (NASDAQ:DAAQ) by 29.4% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 600,000 shares of the company’s stock after selling 250,000 shares during the period. Saba Capital Management L.P. owned approximately 3.48% of Digital Asset Acquisition worth $6,144,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. Sona Asset Management US LLC purchased a new position in Digital Asset Acquisition during the first quarter worth approximately $2,614,000. Berkley W R Corp acquired a new stake in shares of Digital Asset Acquisition in the 1st quarter worth $7,796,000. Cannon Global Investment Management LLC raised its holdings 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 acquiring an additional 2,900 shares during the period. Lineage Point Capital LP purchased a new position in shares of Digital Asset Acquisition during the 4th quarter worth $1,016,000. Finally, Virtu Financial LLC acquired a new position in shares of Digital Asset Acquisition during the 4th quarter valued at about $869,000.

Wall Street Analysts Forecast Growth

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

Digital Asset Acquisition Price Performance

Shares of Digital Asset Acquisition stock opened at $10.41 on Tuesday. Digital Asset Acquisition Corp. has a 52 week low of $10.10 and a 52 week high of $10.51. The business’s fifty day simple moving average is $10.37 and its 200-day simple moving average is $10.29.

Digital Asset Acquisition (NASDAQ:DAAQ) last issued its quarterly earnings data on Friday, May 15th. The company reported $0.05 earnings per share (EPS) 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.