67,060 Shares in BTC Development Corp. $BDCI Acquired by Bulldog Investors LLP

Bulldog Investors LLP bought a new position in shares of BTC Development Corp. (NASDAQ:BDCI) in the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 67,060 shares of the company’s stock, valued at approximately $670,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Periscope Capital Inc. bought a new position in shares of BTC Development in the fourth quarter valued at approximately $4,943,000. Lineage Point Capital LP bought a new stake in shares of BTC Development during the 4th quarter worth $2,002,000. Clear Street Group Inc. acquired a new position in BTC Development in the 4th quarter valued at $2,599,000. Highbridge Capital Management LLC acquired a new position in BTC Development in the 4th quarter valued at $3,004,000. Finally, Virtu Financial LLC acquired a new position in BTC Development in the 4th quarter valued at $847,000.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings raised shares of BTC Development from a “sell (e+)” rating to a “sell (d-)” rating in a research report on Monday, July 13th. One analyst has rated the stock with a Sell rating, According to MarketBeat, the company presently has an average rating of “Sell”.

BTC Development Stock Up 0.0%

Shares of NASDAQ:BDCI opened at $10.09 on Tuesday. The company has a market cap of $306.05 million and a price-to-earnings ratio of 40.34. The business has a 50 day moving average price of $10.06 and a 200 day moving average price of $10.04. BTC Development Corp. has a twelve month low of $9.96 and a twelve month high of $10.26.

BTC Development (NASDAQ:BDCI) last issued 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.