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

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

BTC Development Trading Up 0.1%

Shares of BDCI traded up $0.01 during midday trading on Monday, reaching $10.07. The stock had a trading volume of 1,004 shares, compared to its average volume of 60,813. The company’s 50-day moving average is $10.04 and its 200 day moving average is $10.03. BTC Development has a 12-month low of $9.96 and a 12-month high of $10.26. The company has a market capitalization of $305.59 million and a price-to-earnings ratio of 40.28.

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

Hedge Funds Weigh In On BTC Development

A number of large investors have recently added to or reduced their stakes in the business. Clear Street Group Inc. purchased a new position in shares of BTC Development in the fourth quarter worth about $2,599,000. Aristeia Capital L.L.C. bought a new position in BTC Development during the 4th quarter worth approximately $4,004,000. Highbridge Capital Management LLC purchased a new position in BTC Development in the 4th quarter worth approximately $3,004,000. Periscope Capital Inc. purchased a new position in BTC Development in the 4th quarter worth approximately $4,943,000. Finally, Virtu Financial LLC bought a new stake in BTC Development in the fourth quarter valued at approximately $847,000.

About BTC Development

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.