Context Capital Management LLC Sells 87,500 Shares of BTC Development Corp. $BDCI

Context Capital Management LLC reduced its position in BTC Development Corp. (NASDAQ:BDCI) by 20.0% in the 3rd quarter, Holdings Channel reports. The firm owned 350,000 shares of the company’s stock after selling 87,500 shares during the quarter. Context Capital Management LLC’s holdings in BTC Development were worth $3,554,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors have also recently bought and sold shares of the company. Wealthspring Capital LLC acquired a new position in shares of BTC Development in the 3rd quarter valued at $3,116,000. StoneX Group Inc. bought a new position in shares of BTC Development during the 3rd quarter worth about $1,519,000. Rivernorth Capital Management LLC acquired a new stake in shares of BTC Development during the 1st quarter valued at about $1,996,000. Sona Asset Management US LLC acquired a new stake in shares of BTC Development during the 1st quarter valued at about $2,622,000. Finally, Bulldog Investors LLP acquired a new stake in shares of BTC Development during the 1st quarter valued at about $670,000.

Analyst Upgrades and Downgrades

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

BTC Development Trading Up 0.1%

Shares of BDCI opened at $10.18 on Wednesday. BTC Development Corp. has a 1 year low of $9.96 and a 1 year high of $10.20. The stock has a 50 day simple moving average of $10.16 and a 200-day simple moving average of $10.08. The stock has a market cap of $308.93 million and a PE ratio of 33.93.

BTC Development (NASDAQ:BDCI) last posted its earnings results on Tuesday, November 10th. The company reported $0.06 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.