Wealthspring Capital LLC Makes New $3.12 Million Investment in BTC Development Corp. $BDCI

Wealthspring Capital LLC acquired a new position in BTC Development Corp. (NASDAQ:BDCI) in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 307,044 shares of the company’s stock, valued at approximately $3,116,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bulldog Investors LLP purchased a new position in shares of BTC Development during the 1st quarter valued at $670,000. StoneX Group Inc. bought a new position in BTC Development in the 3rd quarter worth $1,519,000. Rivernorth Capital Management LLC purchased a new stake in BTC Development in the 1st quarter worth $1,996,000. Finally, Sona Asset Management US LLC purchased a new stake in BTC Development in the 1st quarter worth $2,622,000.

BTC Development Stock Performance

NASDAQ BDCI opened at $10.18 on Monday. The stock’s 50 day moving average is $10.16 and its 200 day moving average is $10.08. BTC Development Corp. has a 12 month low of $9.96 and a 12 month high of $10.20. The stock has a market cap of $308.96 million and a PE ratio of 33.93.

BTC Development (NASDAQ:BDCI) last posted its quarterly earnings results on Monday, August 10th. The company reported $0.05 earnings per share for the quarter.

Analyst Ratings Changes

Separately, Weiss Ratings raised BTC Development from a “sell (d-)” rating to a “sell (d)” rating in a report on Monday, November 2nd. One investment analyst has rated the stock with a Sell rating. According to MarketBeat.com, the stock currently has a consensus rating of “Sell”.

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.