Osprey Bitcoin Trust (OTCMKTS:OBTC) Trading 2.3% Higher – Still a Buy?

Shares of Osprey Bitcoin Trust (OTCMKTS:OBTC) were up 2.3% during trading on Monday . The company traded as high as $20.69 and last traded at $20.66. 6,767 shares were traded during trading, a decline of 53% from the average session volume of 14,431 shares. The stock had previously closed at $20.20.

Osprey Bitcoin Trust Trading Up 2.3%

The firm’s 50-day simple moving average is $20.35 and its two-hundred day simple moving average is $22.27.

Institutional Investors Weigh In On Osprey Bitcoin Trust

A number of institutional investors and hedge funds have recently modified their holdings of the company. Jane Street Group LLC purchased a new position in Osprey Bitcoin Trust in the 4th quarter valued at approximately $29,378,000. Mint Tower Capital Management B.V. acquired a new position in Osprey Bitcoin Trust during the fourth quarter worth $1,357,000. Hunting Hill Global Capital LLC purchased a new stake in Osprey Bitcoin Trust during the fourth quarter worth $583,000. Eagle Global Advisors LLC purchased a new stake in Osprey Bitcoin Trust during the fourth quarter worth $445,000. Finally, LPL Financial LLC acquired a new stake in Osprey Bitcoin Trust in the fourth quarter valued at $283,000.

Osprey Bitcoin Trust (OTCMKTS:OBTC) is an investment vehicle designed to provide investors with exposure to the price of bitcoin through a traditional brokerage account. The trust holds bitcoin, and its shares represent fractional ownership of the digital asset, allowing investors to gain price exposure without directly purchasing or storing cryptocurrency. Shares of the trust trade on the OTC Markets under the ticker OBTC, offering intraday liquidity and the familiarity of a stock-like investment format.

The trust is structured as a Delaware statutory trust, with bitcoin custody services provided by a regulated third-party custodian.