Bulldog Investors LLP Takes $670,000 Position in BTC Development Corp. $BDCI

Bulldog Investors LLP purchased a new stake in BTC Development Corp. (NASDAQ:BDCI) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 67,060 shares of the company’s stock, valued at approximately $670,000. Bulldog Investors LLP owned approximately 0.22% of BTC Development as of its most recent filing with the Securities and Exchange Commission.

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

Wall Street Analysts Forecast Growth

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

BTC Development Stock Up 0.0%

BTC Development stock opened at $10.09 on Tuesday. The company’s fifty day simple moving average is $10.06 and its 200-day simple moving average is $10.04. BTC Development Corp. has a 12 month low of $9.96 and a 12 month high of $10.26. The stock has a market cap of $306.05 million and a P/E ratio of 40.34.

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

BTC Development 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.