Osprey Bitcoin Trust (OTCMKTS:OBTC) Shares Down 3.4% – Here’s What Happened

Osprey Bitcoin Trust (OTCMKTS:OBTC) was down 3.4% during trading on Thursday. The company traded as low as $25.99 and last traded at $26.04. Approximately 5,543 shares traded hands during trading, a decline of 55% from the average daily volume of 12,345 shares. The stock had previously closed at $26.97.

Osprey Bitcoin Trust Stock Performance

The stock has a 50-day moving average price of $25.67 and a 200-day moving average price of $23.36.

Hedge Funds Weigh In On Osprey Bitcoin Trust

A hedge fund recently bought a new position in Osprey Bitcoin Trust stock. Sax Wealth Advisors LLC acquired a new stake in Osprey Bitcoin Trust (OTCMKTS:OBTC) in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 7,754 shares of the company’s stock, valued at approximately $208,000. Sax Wealth Advisors LLC owned about 0.26% of Osprey Bitcoin Trust as of its most recent SEC filing.

Osprey Bitcoin Trust is an investment vehicle designed to provide investors with exposure to bitcoin through a publicly traded security. The trust holds bitcoin as its primary asset, and each share represents a fractional beneficial interest in the trust’s bitcoin holdings, less expenses and other liabilities.

The trust is sponsored by Osprey Funds, a digital-asset investment management firm. Rather than operating a conventional business or selling products and services, Osprey Bitcoin Trust is structured to acquire and hold bitcoin on behalf of shareholders.