TechFlow news, January 7th, according to CoinDesk, the perpetual preferred stock Stretch (STRC) issued by Strategy (MSTR) returned to its $100 par value in pre-market trading on Wednesday for the first time since early November. This price level creates conditions for the company to raise funds through an at-the-market (ATM) offering to purchase more Bitcoin.
STRC last traded at this price level between November 4th and 13th, after which it had fallen to near $90. This preferred stock currently offers an 11% annual dividend, distributed monthly in cash, marking the fifth dividend increase since the product's launch in July.
As a short-term high-yield credit product, STRC's dividend rate resets monthly, aiming to encourage trading around the $100 par value and help reduce price volatility. Since its launch, STRC has risen by 16%, offering an approximate 11% real yield.
