Strategy’s STRC Preferred Stock Climbs Back Above $90 After Sharp June Slump

Strategy’s variable rate preferred stock, STRC, closed above $90 for the first time in seven weeks on Monday, capping a steady recovery from a selloff in June that had raised concerns about the Bitcoin treasury company’s financial footing. The stock finished at $92.32, up 3.2% from Friday’s close, marking its first close above $90 since June 16 and a nearly 24% rebound from its June 26 low of $74.57.

Still Below Company’s Target Range

STRC functions as Strategy’s perpetual preferred stock, with a dividend rate adjusted monthly to keep trading close to its $100 stated value. Despite the recent gains, the stock remains under the company’s stated $99 to $100 target range.

Strategy Takes Steps to Support the Stock

The rebound followed direct action from Strategy, including a disclosed sale of 1,638 Bitcoin for $104.7 million, revealed in a recent regulatory filing. Of that amount, $52.4 million went toward funding preferred-stock dividends, while $52.3 million was used to repurchase STRC shares directly.

Additional Capital Raised Through Share Sales

Strategy also raised $290.6 million by selling MSTR shares, allocating $250 million to its cash reserve and $28.9 million toward further STRC buybacks. In total, the company repurchased 912,143 STRC shares for $81.2 million and grew its dollar reserve to $4 billion.