Shares of Keyarch Acquisition Co. (NASDAQ:KYCHU – Get Free Report) dropped 47.4% on Thursday . The company traded as low as $4.00 and last traded at $4.23. Approximately 5,200 shares were traded during mid-day trading, an increase of 195% from the average daily volume of 1,764 shares. The stock had previously closed at $8.04.
Keyarch Acquisition Price Performance
The stock has a 50 day moving average price of $9.30 and a two-hundred day moving average price of $10.27.
Institutional Trading of Keyarch Acquisition
Several hedge funds have recently added to or reduced their stakes in the business. UBS Group AG bought a new position in shares of Keyarch Acquisition in the 1st quarter valued at about $25,000. Spring Creek Capital LLC bought a new position in shares of Keyarch Acquisition in the 1st quarter valued at about $3,530,000. Finally, Rivernorth Capital Management LLC bought a new position in shares of Keyarch Acquisition in the 1st quarter valued at about $4,008,000.
Keyarch Acquisition Company Profile
Keyarch Acquisition Corporation does not have significant operations. It focuses on effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses. The company intends to focus on disruptive technology and innovative services companies worldwide.
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