Context Capital Management LLC Takes $3.50 Million Position in BTC Development Corp. $BDCI

Context Capital Management LLC bought a new position in shares of BTC Development Corp. (NASDAQ:BDCI) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 350,000 shares of the company’s stock, valued at approximately $3,504,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BDCI. Picton Mahoney Asset Management bought a new position in shares of BTC Development in the 4th quarter valued at about $200,000. ABC Arbitrage SA bought a new stake in shares of BTC Development in the 4th quarter valued at about $200,000. Crossingbridge Advisors LLC acquired a new stake in BTC Development in the 4th quarter valued at about $250,000. StoneX Group Inc. acquired a new stake in BTC Development in the 4th quarter valued at about $526,000. Finally, Marshall Wace LLP bought a new position in BTC Development during the fourth quarter worth about $1,002,000.

BTC Development Price Performance

NASDAQ:BDCI opened at $10.05 on Friday. BTC Development Corp. has a 12-month low of $9.96 and a 12-month high of $10.26. The company has a market capitalization of $304.99 million and a price-to-earnings ratio of 40.20. The company has a 50 day simple moving average of $10.02.

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

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.