Kingswood Acquisition Corp. (NYSE:KWAC – Get Rating) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totalling 6,900 shares, a growth of 115.6% from the June 15th total of 3,200 shares. Based on an average daily volume of 28,100 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Trading of Kingswood Acquisition
Several hedge funds have recently bought and sold shares of KWAC. OTA Financial Group L.P. acquired a new stake in shares of Kingswood Acquisition in the fourth quarter valued at approximately $202,000. Karpus Management Inc. increased its holdings in Kingswood Acquisition by 22.8% during the fourth quarter. Karpus Management Inc. now owns 1,293,093 shares of the company's stock worth $13,060,000 after buying an additional 240,377 shares during the last quarter. Saba Capital Management L.P. increased its holdings in Kingswood Acquisition by 5.3% during the fourth quarter. Saba Capital Management L.P. now owns 526,707 shares of the company's stock worth $5,320,000 after buying an additional 26,286 shares during the last quarter. Omni Event Management Ltd acquired a new position in Kingswood Acquisition during the fourth quarter worth $3,646,000. Finally, Logan Stone Capital LLC acquired a new position in Kingswood Acquisition during the fourth quarter worth $220,000. 70.74% of the stock is currently owned by institutional investors and hedge funds.
Get Kingswood Acquisition alerts:Kingswood Acquisition Stock Down 3.9 %
Shares of NYSE KWAC opened at $9.95 on Friday. The firm's 50-day moving average is $10.31 and its 200-day moving average is $10.23. Kingswood Acquisition has a 1 year low of $9.77 and a 1 year high of $11.27.
About Kingswood Acquisition
(Get Rating)Kingswood Acquisition Corp. does not have significant operations. The company focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or related business combination with one or more businesses. It intends to identify a business in the wealth management, financial advisory, and investment management sectors in the United States and internationally.
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