Magnetar Financial LLC Buys Shares of 750,000 BTC Development Corp. $BDCI

Magnetar Financial LLC bought a new stake in shares of BTC Development Corp. (NASDAQ:BDCI) in the 4th quarter, HoldingsChannel reports. The firm bought 750,000 shares of the company’s stock, valued at approximately $7,511,000.

Several other hedge funds have also bought and sold shares of BDCI. ABC Arbitrage SA bought a new stake in BTC Development during the fourth quarter valued at approximately $200,000. Picton Mahoney Asset Management bought a new stake in shares of BTC Development in the 4th quarter worth approximately $200,000. Crossingbridge Advisors LLC bought a new stake in shares of BTC Development in the 4th quarter worth approximately $250,000. StoneX Group Inc. bought a new stake in shares of BTC Development in the 4th quarter worth approximately $526,000. Finally, OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC bought a new stake in shares of BTC Development in the 4th quarter worth approximately $1,002,000.

BTC Development Trading Up 0.1%

Shares of BDCI opened at $10.06 on Wednesday. The company has a market cap of $305.32 million and a price-to-earnings ratio of 40.24. BTC Development Corp. has a fifty-two week low of $9.96 and a fifty-two week high of $10.26. The business has a 50 day simple moving average of $10.03.

BTC Development (NASDAQ:BDCI) last announced its quarterly earnings data 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.