Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) Trading 0.3% Higher – Still a Buy?

Shares of Blockchain Coinvestors Acquisition Corp. I (NASDAQ:BCSA) traded up 0.3% during mid-day trading on Monday . The stock traded as high as $11.60 and last traded at $11.58. 4,200 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 20,633 shares. The stock had previously closed at $11.55.

Blockchain Coinvestors Acquisition Corp. I Stock Performance

The stock’s 50 day simple moving average is $11.46 and its 200-day simple moving average is $11.28.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the business. Clear Street LLC grew its stake in shares of Blockchain Coinvestors Acquisition Corp. I by 69.2% in the 2nd quarter. Clear Street LLC now owns 54,999 shares of the company’s stock valued at $615,000 after purchasing an additional 22,492 shares during the last quarter. Quarry LP acquired a new stake in shares of Blockchain Coinvestors Acquisition Corp. I in the second quarter valued at approximately $833,000. Finally, Berkley W R Corp increased its position in Blockchain Coinvestors Acquisition Corp. I by 249.5% during the 3rd quarter. Berkley W R Corp now owns 243,795 shares of the company’s stock worth $2,794,000 after purchasing an additional 174,038 shares in the last quarter. Hedge funds and other institutional investors own 14.47% of the company’s stock.

About Blockchain Coinvestors Acquisition Corp. I

Blockchain Coinvestors Acquisition Corp. I does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses in the financial services, technology, and other sectors of the economy that are being enabled by emerging applications of blockchain.