Strategy's preferred stock STRC fell to a new low as Bitcoin traded below $60,000. The shares traded around $73, down 3 percent in pre-market trading on Friday.
Strategy's perpetual preferred stock STRC is trading roughly 27 percent below its $100 par value. The decline comes as the company's common stock trades near $85.
June 30 marks the ex-dividend date for STRC holders, who will receive a $0.48 per share payment on July 15. The payment represents less than 0.7 percent of the current share price.
The monthly dividend rate reset is drawing more attention from investors. The current 11.50 percent rate has produced an effective yield near 15 percent at current prices, leading expectations of an increase to at least 12 percent or 12.50 percent.
Strategy holds about 844,000 Bitcoin acquired at an average price near $75,600. With Bitcoin near $60,000, the company faces more than $13 billion in unrealized losses.
