STRC Stock Logs Record $1.53B, Expands Bitcoin Holdings

TLDR

• Strategy’s STRC stock recorded $1.53 billion in trading volume on Thursday, the highest daily level on record.
• The company used proceeds from its at-the-market program to purchase 11,707 Bitcoin.
• Most STRC shares traded at or above their $100 par value before the ex-dividend date.
• STRC offers an 11.5% annual dividend, which the company pays monthly in cash.
• STRC shares declined to $99.12 in pre-market trading as they began trading ex-dividend.

Strategy’s perpetual preferred shares posted $1.53 billion in trading volume on Thursday. The company used the proceeds to acquire 11,707 Bitcoin through its at-the-market program. Trading activity surged as the shares approached their ex-dividend date, while Bitcoin traded near $80,500.

STRC Stock Drives Fresh Bitcoin Acquisition

STRC stock recorded $1.53 billion in trades on Thursday, the highest daily total on record. According to BitcoinQuant, the surge supported the purchase of 11,707 bitcoin through Strategy’s at-the-market program. The program allows Strategy to issue new shares and raise funds for bitcoin purchases.

The company confirmed that most STRC shares traded at or above the $100 par value. Thursday’s volume exceeded the 30-day average of about $331 million by more than four times. STRC offers an 11.5% annual dividend, and it pays the dividend monthly in cash.

Trading activity often rises before the ex-dividend date, and STRC followed that pattern. Friday marked the ex-dividend date for the preferred shares. Therefore, buyers after that date will not receive the upcoming dividend payment.

Pre-market data showed STRC shares at $99.12, reflecting a decline of nearly 1%. Dividend-paying securities often drop by the payout amount when they begin trading ex-dividend. Market data reflected that the standard price adjustment occurred during early trading.

Strategy structured STRC as a perpetual preferred stock tied to its bitcoin strategy. The company uses proceeds from share sales to expand its bitcoin holdings. BitcoinQuant stated that the ATM program funded the latest 11,707 bitcoin purchase.

Bitcoin Trades Near $80,500 as MSTR Slips

Bitcoin traded near $80,500 during the same session. The price action coincided with weaker pre-market performance in Strategy’s common shares. MSTR stock fell about 2% in pre-market trading.

Market data showed bitcoin at $80,589.47 earlier in the session before easing lower. The movement in bitcoin prices often influences Strategy’s equity performance. As bitcoin slipped, MSTR shares moved in the same direction.

STRC shares had traded mostly at or above $100 before the ex-dividend date. However, the shift to ex-dividend status weighed on the preferred stock price. Pre-market figures placed the shares below par at $99.12.

The 11.5% annual dividend remains in place for STRC holders. Strategy pays the dividend monthly in cash, according to company terms. Investors who held shares before Friday’s cutoff will receive the next payment.

BitcoinQuant linked the high trading volume to capital raised under the ATM program. The firm stated that the raised funds enabled the 11,707 bitcoin acquisition. Strategy remains the world’s largest public corporate holder of bitcoin based on disclosed holdings.

The post STRC Stock Logs Record $1.53B, Expands Bitcoin Holdings appeared first on Blockonomi.