Shares of Kochav Defense Acquisition Corp. (NASDAQ:KCHVU – Get Free Report) rose 2.1% during mid-day trading on Friday . The stock traded as high as $10.54 and last traded at $10.7410. 311 shares changed 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 stock’s 50 day moving average is $10.50 and its two-hundred day moving average is $10.50.
Institutional Inflows and Outflows
Large investors have recently bought and sold shares of the stock. JPMorgan Chase & Co. acquired a new stake in shares of Kochav Defense Acquisition in the 2nd quarter valued at approximately $153,000. Shaolin Capital Management LLC bought a new stake in shares of Kochav Defense Acquisition during the second quarter worth approximately $6,105,000. TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Kochav Defense Acquisition in the 2nd quarter valued at $5,088,000. Cable Car Capital LP acquired a new position in shares of Kochav Defense Acquisition in the second quarter valued at about $2,472,000. Finally, Boothbay Fund Management LLC bought a new position in shares of Kochav Defense Acquisition during the second quarter worth approximately $478,000.
Kochav Defense Acquisition Company Profile
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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