BTC Development Corp. (NASDAQ:BDCI) Short Interest Update

BTC Development Corp. (NASDAQ:BDCI) saw a significant drop in short interest during the month of June. As of June 15th, there was short interest totaling 2,388 shares, a drop of 58.0% from the May 31st total of 5,692 shares. Currently, 0.0% of the company’s shares are short sold. Based on an average daily volume of 28,300 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Meteora Capital LLC purchased a new position in shares of BTC Development in the 4th quarter valued at approximately $18,337,000. Toronto Dominion Bank purchased a new stake in BTC Development in the fourth quarter worth $13,345,000. Glazer Capital LLC bought a new position in BTC Development in the fourth quarter worth $11,755,000. TENOR CAPITAL MANAGEMENT Co. L.P. bought a new position in BTC Development in the fourth quarter worth $11,261,000. Finally, Adage Capital Partners GP L.L.C. purchased a new position in BTC Development during the fourth quarter valued at $10,010,000.

BTC Development Trading Up 0.1%

NASDAQ BDCI traded up $0.01 on Monday, hitting $10.07. The company’s stock had a trading volume of 1,004 shares, compared to its average volume of 60,813. BTC Development has a 52-week low of $9.96 and a 52-week high of $10.26. The firm has a market cap of $305.59 million and a P/E ratio of 40.28. The company’s 50-day simple moving average is $10.04 and its 200 day simple moving average is $10.03.

BTC Development (NASDAQ:BDCI) last announced its quarterly earnings results on Tuesday, May 12th. The company reported $0.05 EPS for the quarter.

BTC Development Company Profile

We are a blank check company incorporated as a Cayman Islands exempted company and incorporated for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or other similar business combination involving one or more businesses or assets, which we refer to throughout this prospectus as our initial business combination. To date, our efforts have been limited to organizational activities as well as activities related to this offering. We have not identified any acquisition target and we have not, nor has anyone on our behalf, initiated any discussions, directly or indirectly, with respect to identifying any acquisition target.