Keyarch Acquisition (NASDAQ:KYCH) Trading Down 54.9%

Keyarch Acquisition Co. (NASDAQ:KYCH) shares were down 54.9% on Tuesday . The company traded as low as $3.49 and last traded at $4.10. Approximately 855,600 shares were traded during mid-day trading, an increase of 1,590% from the average daily volume of 50,626 shares. The stock had previously closed at $9.10.

Keyarch Acquisition Stock Performance

The company has a fifty day simple moving average of $10.24 and a 200-day simple moving average of $10.58.

Institutional Trading of Keyarch Acquisition

Hedge funds have recently modified their holdings of the business. Wolverine Asset Management LLC purchased a new stake in shares of Keyarch Acquisition in the third quarter worth approximately $582,000. Meteora Capital LLC boosted its position in Keyarch Acquisition by 136.9% during the third quarter. Meteora Capital LLC now owns 351,472 shares of the company’s stock valued at $3,743,000 after purchasing an additional 203,104 shares during the last quarter. Mizuho Securities USA LLC purchased a new position in Keyarch Acquisition in the third quarter valued at about $270,000. Glazer Capital LLC acquired a new stake in shares of Keyarch Acquisition during the 1st quarter valued at about $2,132,000. Finally, Radcliffe Capital Management L.P. bought a new stake in shares of Keyarch Acquisition in the 1st quarter valued at approximately $2,048,000. Hedge funds and other institutional investors own 38.06% of the company’s stock.

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.