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Strategy has spent $635.2M repurchasing STRC preferred shares

STRC is still trading below its $100 par value, even after a $1 billion repurchase authorization helped lift the stock from around $71 to about $97.

Reported · Written up by our desk · Market Structure

Strategy has spent $635.2 million repurchasing STRC preferred shares, including a $151.8 million purchase at an average price of $97.48, but the perpetual preferred stock is still struggling to reach its $100 par value. CoinDesk reports STRC is trading around $97.3 to $97.5 despite the company’s ongoing buybacks.

CoinDesk says Strategy introduced a $1 billion repurchase authorization, which helped lift STRC from a low near $71 to roughly $97, with repurchase sizes increasing as the preferred share price climbed. The outlet also notes Strategy’s latest preferred buy came as it continued repurchasing despite the gap versus par.

In the same coverage, CoinDesk highlights that SATA is competing for investor attention by offering a higher 13% annualized dividend rate with daily payments, versus STRC’s 12% annualized rate paid semi monthly. CoinDesk adds that SATA has held near its $100 par value for more than a week, supported by additional shares issued through an at the market program and proceeds used to buy bitcoin.

CoinDesk further contrasts performance in the companies’ common shares, saying ASST is up 60% year to date while MSTR is down 15%. The outlet also reports Strategy purchased bitcoin for the first time in two months, acquiring 4,603 BTC for $369.7 million last week, bringing total holdings to 845,050 BTC, or $65.9 billion.

Latest closeBitcoin $77,874.48 ▼0.9%

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