Kochav Defense Acquisition (NASDAQ:KCHVU) Shares Up 1.4% – Here’s Why

Shares of Kochav Defense Acquisition Corp. (NASDAQ:KCHVU) were up 1.4% on Thursday . The stock traded as high as $10.55 and last traded at $10.55. Approximately 200 shares traded hands during mid-day trading, a decline of 95% from the average daily volume of 4,217 shares. The stock had previously closed at $10.40.

Kochav Defense Acquisition Stock Up 1.4%

The company’s 50 day simple moving average is $10.40 and its 200 day simple moving average is $10.35.

Institutional Investors Weigh In On Kochav Defense Acquisition

A number of institutional investors have recently bought and sold shares of KCHVU. JPMorgan Chase & Co. purchased a new position in Kochav Defense Acquisition during the second quarter worth approximately $153,000. Boothbay Fund Management LLC acquired a new stake in shares of Kochav Defense Acquisition during the 2nd quarter worth $478,000. BCK Capital Management LP acquired a new stake in shares of Kochav Defense Acquisition during the 2nd quarter worth $509,000. Warberg Asset Management LLC purchased a new position in shares of Kochav Defense Acquisition in the 2nd quarter worth $796,000. Finally, StoneX Group Inc. acquired a new position in Kochav Defense Acquisition in the second quarter valued at $1,272,000.

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.