Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) Sees Large Decrease in Short Interest

Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 853 shares, a decrease 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 presently 1.7 days.

Kochav Defense Acquisition Price Performance

KCHVU stock remained flat at $10.90 during trading on Thursday. The company’s 50 day simple moving average is $10.59 and its 200 day simple moving average is $10.54. Kochav Defense Acquisition has a 12 month low of $10.15 and a 12 month high of $11.00.

Hedge Funds Weigh In On Kochav Defense Acquisition

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

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.