Kochav Defense Acquisition Corp. (NASDAQ:KCHVU – Get Free Report) rose 2.1% on Friday . The company traded as high as $10.54 and last traded at $10.7410. Approximately 311 shares traded hands during mid-day trading, a decline of 85% from the average daily volume of 2,065 shares. The stock had previously closed at $10.52.
Kochav Defense Acquisition Price Performance
The company’s 50-day simple moving average is $10.50 and its 200-day simple moving average is $10.50.
Institutional Investors Weigh In On Kochav Defense Acquisition
A number of large investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. purchased a new stake in Kochav Defense Acquisition during the 2nd quarter worth $153,000. Shaolin Capital Management LLC acquired a new position in Kochav Defense Acquisition in the 2nd quarter worth $6,105,000. TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new position in Kochav Defense Acquisition in the 2nd quarter valued at about $5,088,000. Cable Car Capital LP purchased a new position in Kochav Defense Acquisition in the 2nd quarter valued at about $2,472,000. Finally, Boothbay Fund Management LLC acquired a new stake in shares of Kochav Defense Acquisition during the second quarter valued at about $478,000.
About Kochav Defense Acquisition
Kochav Defense Acquisition Corp (NASDAQ:KCHVU) is a Delaware-incorporated special-purpose acquisition company (SPAC) formed to effect a business combination with one or more businesses in the defense sector. The company completed its initial public offering to raise capital for the acquisition of companies operating in areas such as aerospace and defense technologies, national security solutions, cybersecurity, unmanned systems and related high-tech fields. As a development-stage company, Kochav Defense Acquisition currently holds its IPO proceeds in trust and has no commercial operations at present.
The SPAC structure provides investors with units comprising shares of common stock and accompanying warrants, offering potential upside upon the completion of a qualifying business combination.
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