Shares of Keyarch Acquisition Co. (NASDAQ:KYCHU – Get Free Report) were down 47.4% on Thursday . The stock traded as low as $4.00 and last traded at $4.23. Approximately 5,200 shares changed hands 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 company has a 50-day simple moving average of $9.56 and a two-hundred day simple moving average of $10.35.
Institutional Inflows and Outflows
A number of institutional investors have recently made changes to their positions in the company. UBS Group AG bought a new position in Keyarch Acquisition in the 1st quarter worth about $25,000. Spring Creek Capital LLC bought a new position in shares of Keyarch Acquisition during the 1st quarter valued at about $3,530,000. Finally, Rivernorth Capital Management LLC bought a new position in shares of Keyarch Acquisition during the 1st quarter valued at about $4,008,000.
About Keyarch Acquisition
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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