Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) Short Interest Down 22.7% in March

Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) saw a large drop in short interest in the month of March. As of March 13th, there was short interest totaling 5,648 shares, a drop of 22.7% from the February 26th total of 7,309 shares. Based on an average daily trading volume, of 288 shares, the short-interest ratio is currently 19.6 days.

Kochav Defense Acquisition Price Performance

Shares of KCHVU stock opened at $10.81 on Friday. The company’s fifty day simple moving average is $10.54 and its two-hundred day simple moving average is $10.43. Kochav Defense Acquisition has a 1 year low of $9.99 and a 1 year high of $11.00.

Institutional Investors Weigh In On Kochav Defense Acquisition

Several hedge funds have recently made changes to their positions in KCHVU. AQR Arbitrage LLC bought a new stake in Kochav Defense Acquisition during the second quarter worth about $19,078,000. Linden Advisors LP purchased a new position in shares of Kochav Defense Acquisition during the second quarter valued at approximately $14,245,000. Meteora Capital LLC bought a new stake in shares of Kochav Defense Acquisition in the 2nd quarter worth approximately $11,015,000. Berkley W R Corp bought a new stake in shares of Kochav Defense Acquisition in the 2nd quarter worth approximately $10,194,000. Finally, Hudson Bay Capital Management LP purchased a new stake in shares of Kochav Defense Acquisition in the 2nd quarter worth approximately $6,614,000.

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.