Osprey Bitcoin Trust (OTCMKTS:OBTC) Stock Price Up 0.6% – Still a Buy?

Osprey Bitcoin Trust (OTCMKTS:OBTC) shares shot up 0.6% during mid-day trading on Wednesday . The company traded as high as $29.05 and last traded at $28.97. 47,762 shares traded hands during mid-day trading, an increase of 20% from the average session volume of 39,966 shares. The stock had previously closed at $28.80.

Osprey Bitcoin Trust Stock Up 0.6%

The company’s 50 day moving average price is $28.41 and its two-hundred day moving average price is $31.62.

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.