COVA Acquisition Corp. Unit
COVAU
COVAU was delisted on the 20th of December, 2022.
53 hedge funds and large institutions have $74.7M invested in COVA Acquisition Corp. Unit in 2021 Q2 according to their latest regulatory filings, with 5 funds opening new positions, 6 increasing their positions, 15 reducing their positions, and 51 closing their positions.
46% less funds holding
Funds holding: 99 → 53 (-46)
60% less repeat investments, than reductions
Existing positions increased: 6 | Existing positions reduced: 15
65% less capital invested
Capital invested by funds: $216M → $74.7M (-$141M)
90% less first-time investments, than exits
New positions opened: 5 | Existing positions closed: 51
Top Buyers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
FPA
First Pacific Advisors
El Segundo,
California
|
+$4.05M |
| 2 |
PMAM
Picton Mahoney Asset Management
Toronto,
Ontario, Canada
|
+$1.5M |
| 3 |
VF
Virtu Financial
New York
|
+$483K |
| 4 |
HIM
HGC Investment Management
Toronto,
Ontario, Canada
|
+$251K |
| 5 |
LCM
Landscape Capital Management
Englewood,
New Jersey
|
+$220K |
Top Sellers
| Rank | Fund | Capital Flow |
|---|---|---|
| 1 |
CCA
Castle Creek Arbitrage
Avon,
Colorado
|
-$12M |
| 2 |
Marshall Wace
London,
United Kingdom
|
-$8.27M |
| 3 |
Nomura Holdings
Tokyo,
Japan
|
-$6.67M |
| 4 |
RCM
Radcliffe Capital Management
Bala Cynwyd,
Pennsylvania
|
-$6.47M |
| 5 |
PC
Periscope Capital
Toronto,
Ontario, Canada
|
-$6.03M |
| Name | Holding | Trade Value |
Shares Change |
Change in Stake |
|
|---|---|---|---|---|---|
101
Bank of America
Charlotte,
North Carolina
| – | -$153K | -15,363 | Closed |
|
102
Bank of Montreal
Toronto,
Ontario, Canada
| – | -$100K | -10,000 | Closed |
|
|
EAM
103
Exos Asset Management
New York
| – | -$100K | -10,000 | Closed |
|
|
AA
104
Ancora Advisors
Cleveland,
Ohio
| – | -$15K | -1,500 | Closed |
|
COVAU Hedge Fund Activity: Q2 2021 in Review
53 of the 5,746 institutional investors tracked by Wall St. Rank reported a position in COVA Acquisition Corp. Unit (COVAU) for Q2 2021, worth a combined $74.7M — down 65% from $216M a quarter earlier.
Sellers outnumbered buyers: 51 funds closed out of COVAU and 5 opened new positions — a net loss of 46 holders — while 15 trimmed existing stakes and 6 added.
The largest buyer was First Pacific Advisors, opening a new position worth an estimated $4.05M. The largest seller was Castle Creek Arbitrage, exiting entirely with an estimated $12M sold.
- 53 institutional investors held COVA Acquisition Corp. Unit (COVAU) as of Q2 2021, down from 99 in Q1 2021.
- Funds reported $74.7M of COVA Acquisition Corp. Unit stock for Q2 2021, down 65% quarter-over-quarter.
- 5 funds opened new COVA Acquisition Corp. Unit positions in Q2 2021 and 51 closed out, a net change of -46 holders.
- The largest COVA Acquisition Corp. Unit buyer in Q2 2021 was First Pacific Advisors, an estimated $4.05M added.
- The largest COVA Acquisition Corp. Unit seller in Q2 2021 was Castle Creek Arbitrage, an estimated $12M sold.
Based on aggregated 13F filings for Q2 2021.