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COVAU

COVA Acquisition Corp. Unit
COVAU

Delisted

COVAU was delisted on the 20th of December, 2022.

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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.

New
Increased
Maintained
Reduced
Closed

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

Holders
53
Holders Change
-46
Holders Change %
-46.46%
% of All Funds
0.92%
Holding in Top 10
–
Holding in Top 10 Change
–
Holding in Top 10 Change %
–
% of All Funds
–
New
5
Increased
6
Reduced
15
Closed
51
Calls
–
Puts
–
Net Calls
–
Net Calls Change
–

Top Buyers

Rank Fund Capital Flow
1
FPA
First Pacific Advisors
California
+$4.05M
2
PMAM
Picton Mahoney Asset Management
Ontario, Canada
+$1.5M
3
VF
Virtu Financial
New York
+$483K
4
HIM
HGC Investment Management
Ontario, Canada
+$251K
5
LCM
Landscape Capital Management
New Jersey
+$220K

Top Sellers

Rank Fund Capital Flow
1
CCA
Castle Creek Arbitrage
Colorado
-$12M
2
Marshall Wace
Marshall Wace
United Kingdom
-$8.27M
3
Nomura Holdings
Nomura Holdings
Japan
-$6.67M
4
RCM
Radcliffe Capital Management
Pennsylvania
-$6.47M
5
PC
Periscope Capital
Ontario, Canada
-$6.03M
Name Holding Trade Value Shares
Change 		Change in
Stake
AC
1
Aristeia Capital
Connecticut
$16.8M – – –
PI
2
Putnam Investments
Massachusetts
$8.07M – – –
HIM
3
HGC Investment Management
Ontario, Canada
$6.4M +$251K +25,000 +4%
FPA
4
First Pacific Advisors
California
$4.08M +$4.05M +404,041 New
Millennium Management
5
Millennium Management
New York
$3.58M -$1.1M -110,000 -24%
CHP
6
Castle Hook Partners
New York
$3.03M – – –
CCM
7
Context Capital Management
California
$2.77M – – –
Citadel Advisors
8
Citadel Advisors
Florida
$2.54M +$187K +18,690 +8%
WCMNY
9
Westchester Capital Management (New York)
New York
$2.52M – – –
SRCM
10
Sage Rock Capital Management
New York
$2.32M – – –
BFM
11
Boothbay Fund Management
New York
$2.11M +$76.7K +7,641 +4%
SCM
12
Shaolin Capital Management
Florida
$2.05M – – –
PMAM
13
Picton Mahoney Asset Management
Ontario, Canada
$1.51M +$1.5M +150,000 New
HF
14
HRT Financial
New York
$1.05M +$13.7K +1,367 +1%
WC
15
Wealthspring Capital
New York
$1.03M -$182K -18,100 -15%
LOAMU
16
Lombard Odier Asset Management (USA)
New York
$1.01M – – –
GCL
17
Glazer Capital LLC
New York
$1M -$4.89M -487,573 -83%
ACA
18
Arena Capital Advisors
California
$985K – – –
Susquehanna International Group
19
Susquehanna International Group
Pennsylvania
$985K – – –
Verition Fund Management
20
Verition Fund Management
Connecticut
$729K -$2.51M -250,000 -78%
RA
21
Ramius Advisors
New York
$706K -$3.51M -349,815 -83%
SMA
22
Sage Mountain Advisors
Georgia
$670K +$27.1K +2,700 +4%
PCA
23
Prospect Capital Advisors
California
$554K -$12.5K -1,250 -2%
Calamos Advisors
24
Calamos Advisors
Illinois
$505K – – –
COPPSERS
25
Commonwealth of Pennsylvania Public School Employees Retirement System
Pennsylvania
$504K – – –
1
2 3 4 5

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.