Digital Asset Acquisition (NASDAQ:DAAQU) Shares Down 3.5% – Time to Sell?

Shares of Digital Asset Acquisition Corp. (NASDAQ:DAAQU) were down 3.5% on Wednesday . The company traded as low as $10.60 and last traded at $10.60. Approximately 1,000 shares were traded during trading, a decline of 55% from the average daily volume of 2,224 shares. The stock had previously closed at $10.98.

Digital Asset Acquisition Stock Performance

The firm has a 50 day moving average of $10.66 and a 200-day moving average of $10.54.

Institutional Trading of Digital Asset Acquisition

An institutional investor recently bought a new position in Digital Asset Acquisition stock. Parallax Volatility Advisers L.P. bought a new position in Digital Asset Acquisition Corp. (NASDAQ:DAAQU) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm bought 14,000 shares of the company’s stock, valued at approximately $148,000.

About Digital Asset Acquisition

Digital Asset Acquisition Corp. (NASDAQ: DAAQU) is a special purpose acquisition company (SPAC) incorporated as an exempted company in the Cayman Islands. The company completed its initial public offering of units and is listed on the NASDAQ Capital Market under the ticker DAAQU. As a blank-check vehicle, its primary objective is to identify, acquire or merge with one or more businesses operating in the digital asset ecosystem within a prescribed timeframe.

The company’s investment focus spans a broad array of digital-asset related activities, including blockchain infrastructure, decentralized finance (DeFi) platforms, digital asset custody and security solutions, tokenization services, and related financial technologies.