Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) Short Interest Down 84.8% in July

Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) was the target of a large decline in short interest in July. As of July 31st, there was short interest totaling 853 shares, a decline of 84.8% from the July 15th total of 5,615 shares. Based on an average daily volume of 507 shares, the days-to-cover ratio is currently 1.7 days.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. acquired a new position in shares of Kochav Defense Acquisition in the 2nd quarter valued at about $153,000. Boothbay Fund Management LLC acquired a new stake in Kochav Defense Acquisition in the 2nd quarter valued at $478,000. Cable Car Capital LP bought a new stake in shares of Kochav Defense Acquisition during the second quarter worth about $2,472,000. Clear Street Group Inc. increased its holdings in Kochav Defense Acquisition by 7.2% during the 4th quarter. Clear Street Group Inc. now owns 248,203 shares of the company’s stock worth $2,569,000 after purchasing an additional 16,765 shares in the last quarter. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. purchased a new stake in Kochav Defense Acquisition in the 2nd quarter valued at $5,088,000.

Kochav Defense Acquisition Stock Performance

Shares of Kochav Defense Acquisition stock remained flat at $10.90 on Wednesday. Kochav Defense Acquisition has a 52 week low of $10.15 and a 52 week high of $11.00. The company has a 50-day moving average of $10.58 and a 200-day moving average of $10.53.

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.