Short Interest in BTC Development Corp. (NASDAQ:BDCI) Expands By 232.1%

BTC Development Corp. (NASDAQ:BDCI) saw a significant growth in short interest in May. As of May 29th, there was short interest totaling 5,692 shares, a growth of 232.1% from the May 14th total of 1,714 shares. Based on an average trading volume of 27,047 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the company’s shares are short sold.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in BDCI. Highbridge Capital Management LLC bought a new position in shares of BTC Development in the 4th quarter worth about $3,004,000. Periscope Capital Inc. bought a new stake in shares of BTC Development during the 4th quarter worth about $4,943,000. Wealthspring Capital LLC acquired a new position in shares of BTC Development in the 4th quarter worth approximately $3,346,000. ABC Arbitrage SA acquired a new position in shares of BTC Development in the 4th quarter worth approximately $200,000. Finally, Marshall Wace LLP purchased a new position in shares of BTC Development in the fourth quarter worth approximately $1,002,000.

BTC Development Stock Down 0.1%

Shares of BTC Development stock traded down $0.01 during trading hours on Thursday, hitting $10.05. The company’s stock had a trading volume of 12,506 shares, compared to its average volume of 65,108. BTC Development has a 1-year low of $9.96 and a 1-year high of $10.26. The firm has a fifty day moving average price of $10.02. The firm has a market cap of $305.02 million and a P/E ratio of 40.20.

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

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.