Strategy's preferred stock STRC closes 11% below par at $89

CoinFeed June 18 news, according to The Block, Strategy's preferred stock STRC closed at $89 on Wednesday, down 11% from its $100 par value, hitting an intraday low of $88.50, marking its lowest closing price since listing. STRC currently pays an effective dividend yield of 12.9%, designed to maintain a stable price around $100 through monthly rate adjustments. When the stock price is above par, Strategy issues new shares to purchase Bitcoin, but the plan has been suspended while STRC trades at a discount. STRC is Strategy's most liquid and actively traded preferred stock, with a trading volume of $417.5 million today. Competitor Strive's SATA traded above $99 on Wednesday, with a dividend yield of 13.69%, outperforming STRC.