Alberta Investment Management Corp Buys Shares of 525,000 BTC Development Corp. $BDCI

Alberta Investment Management Corp purchased a new position in BTC Development Corp. (NASDAQ:BDCI) in the fourth quarter, Holdings Channel reports. The institutional investor purchased 525,000 shares of the company’s stock, valued at approximately $5,258,000.

Other hedge funds also recently made changes to their positions in the company. ABC Arbitrage SA purchased a new stake in BTC Development during the 4th quarter worth about $200,000. Picton Mahoney Asset Management purchased a new position in BTC Development during the 4th quarter valued at about $200,000. Crossingbridge Advisors LLC purchased a new position in BTC Development during the 4th quarter valued at about $250,000. StoneX Group Inc. bought a new stake in shares of BTC Development during the fourth quarter valued at about $526,000. Finally, Marshall Wace LLP bought a new stake in shares of BTC Development during the fourth quarter valued at about $1,002,000.

BTC Development Price Performance

BDCI stock opened at $10.06 on Wednesday. The company has a 50 day moving average price of $10.03. 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 $305.32 million and a price-to-earnings ratio of 40.24.

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