307,044 Shares of BTC Development Corp. $BDCI Purchased by Wealthspring Capital LLC

Wealthspring Capital LLC purchased a new stake in shares of BTC Development Corp. (NASDAQ:BDCI) during the third quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 307,044 shares of the company’s stock, valued at approximately $3,116,000. Wealthspring Capital LLC owned about 1.01% of BTC Development as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Sona Asset Management US LLC bought a new position in BTC Development during the first quarter valued at approximately $2,622,000. Rivernorth Capital Management LLC purchased a new stake in BTC Development in the first quarter worth approximately $1,996,000. StoneX Group Inc. bought a new stake in BTC Development in the 3rd quarter worth approximately $1,519,000. Finally, Bulldog Investors LLP bought a new stake in BTC Development in the 1st quarter worth approximately $670,000.

Analyst Ratings Changes

Separately, Weiss Ratings upgraded shares of BTC Development from a “sell (d-)” rating to a “sell (d)” rating in a research note on Monday, November 2nd. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat, the company presently has an average rating of “Sell”.

BTC Development Stock Performance

NASDAQ BDCI opened at $10.18 on Monday. The business’s fifty day moving average is $10.16 and its 200 day moving average is $10.08. BTC Development Corp. has a fifty-two week low of $9.96 and a fifty-two week high of $10.20. The company has a market capitalization of $308.96 million and a PE ratio of 33.93.

BTC Development (NASDAQ:BDCI) last issued its quarterly earnings results on Monday, August 10th. The company reported $0.05 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.