COVA Acquisition Corp. (NASDAQ:COVA) Sees Large Decline in Short Interest

COVA Acquisition Corp. (NASDAQ:COVAGet Rating) was the recipient of a significant drop in short interest during the month of May. As of May 15th, there was short interest totalling 500 shares, a drop of 96.8% from the April 30th total of 15,800 shares. Based on an average trading volume of 50,800 shares, the days-to-cover ratio is presently 0.0 days.

NASDAQ COVA traded up $0.01 during mid-day trading on Wednesday, reaching $9.81. 782,155 shares of the stock were exchanged, compared to its average volume of 54,295. COVA Acquisition has a 1-year low of $9.60 and a 1-year high of $9.85. The business’s fifty day simple moving average is $9.80 and its 200 day simple moving average is $9.76.

A number of hedge funds and other institutional investors have recently made changes to their positions in COVA. Bank of America Corp DE acquired a new stake in COVA Acquisition during the second quarter worth approximately $620,000. Magnetar Financial LLC purchased a new position in COVA Acquisition during the third quarter worth approximately $101,000. Cohanzick Management LLC raised its stake in COVA Acquisition by 30.1% during the third quarter. Cohanzick Management LLC now owns 67,671 shares of the company’s stock worth $659,000 after purchasing an additional 15,671 shares during the period. Wolverine Asset Management LLC raised its stake in COVA Acquisition by 23.2% during the third quarter. Wolverine Asset Management LLC now owns 91,202 shares of the company’s stock worth $889,000 after purchasing an additional 17,149 shares during the period. Finally, Mariner Investment Group LLC raised its stake in COVA Acquisition by 93.9% during the third quarter. Mariner Investment Group LLC now owns 20,655 shares of the company’s stock worth $201,000 after purchasing an additional 10,000 shares during the period. Hedge funds and other institutional investors own 59.06% of the company’s stock.

COVA Acquisition Company Profile (Get Rating)

COVA Acquisition Corp. focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses or entities. The company was founded in 2020 and is based in San Francisco, California.

Further Reading

Receive News & Ratings for COVA Acquisition Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for COVA Acquisition and related companies with MarketBeat.com's FREE daily email newsletter.