Short Interest in Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) Decreases By 84.8%

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

Kochav Defense Acquisition Stock Performance

Shares of Kochav Defense Acquisition stock remained flat at $10.90 during trading on Wednesday. The stock’s 50-day simple moving average is $10.58 and its 200-day simple moving average is $10.53. Kochav Defense Acquisition has a 1-year low of $10.15 and a 1-year high of $11.00.

Hedge Funds Weigh In On Kochav Defense Acquisition

Several hedge funds have recently added to or reduced their stakes in KCHVU. JPMorgan Chase & Co. bought a new position in Kochav Defense Acquisition in the second quarter valued at approximately $153,000. Boothbay Fund Management LLC bought a new position in Kochav Defense Acquisition in the second quarter valued at approximately $478,000. Cable Car Capital LP bought a new position in shares of Kochav Defense Acquisition in the second quarter valued at $2,472,000. Clear Street Group Inc. raised its position in Kochav Defense Acquisition by 7.2% during 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. Finally, TENOR CAPITAL MANAGEMENT Co. L.P. acquired a new position in Kochav Defense Acquisition during the second quarter worth approximately $5,088,000.

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.