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

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

BTC Development Stock Up 0.1%

NASDAQ BDCI traded up $0.01 on Tuesday, hitting $10.07. The stock had a trading volume of 29,416 shares, compared to its average volume of 60,813. The company’s 50-day moving average is $10.04 and its two-hundred day moving average is $10.03. The stock has a market cap of $305.62 million and a price-to-earnings ratio of 40.28. BTC Development has a one year low of $9.96 and a one year high of $10.26.

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

Institutional Trading of BTC Development

A number of institutional investors have recently made changes to their positions in the stock. ABC Arbitrage SA bought a new stake in BTC Development in the fourth quarter worth about $200,000. Picton Mahoney Asset Management bought a new position in shares of BTC Development in the fourth quarter valued at $200,000. Crossingbridge Advisors LLC bought a new position in shares of BTC Development in the fourth quarter valued at $250,000. Boothbay Fund Management LLC acquired a new stake in shares of BTC Development during the 4th quarter valued at $350,000. Finally, StoneX Group Inc. bought a new stake in shares of BTC Development during the 4th quarter worth $526,000.

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.