Key Takeaways:
- Strategy’s perpetual preferred stock, STRC, recorded a record $1.53 billion in daily trading volume.
- The surge in trading activity helped fund the purchase of 11,707 Bitcoin through Strategy’s at-the-market share sale program.
Strategy’s perpetual stock STRC posted a record $1.53 billion in trading volume in a single day. It marks the highest daily turnover since the perpetual stock was launched. The sharp increase came as investors positioned ahead of the stock’s ex-dividend date. According to BitcoinQuant, the elevated activity enabled Strategy to raise capital through its at-the-market (AYM) program. It was used to acquire approximately 11,707 Bitcoin (BTC).
Dividend Demand Boosts Investor Activity
STRC currently pays an 11.5% annual dividend, distributed monthly in cash. Most shares traded at or above their $100 par value during Thursday’s session, reflecting strong investor demand. The trading volume was more than four times STRC’s 30-day average daily volume of around $331 million.
Such spikes are common in dividend-paying securities as investors buy shares before the ex-dividend date to qualify for the upcoming payout.
Shares Slip as MSTR and BTC Decline
With Friday marking the ex-dividend date, STRC fell nearly 1% in pre-market trading to $99.12, a typical adjustment reflecting the dividend payment. Meanwhile, Bitcoin declined to $80,500, putting pressure on Strategy’s common stock MSTR, which dropped 2% in pre-market trading.
