PANews, June 18 – According to The Block, Strategy’s preferred stock STRC closed at $89 on Wednesday, down 11% from its $100 par value, and hit 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 of around $100 through monthly interest rate adjustments. When the stock price is above par value, 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. Rival Strive’s SATA traded above $99 on Wednesday with a dividend yield of 13.69%, outperforming STRC.