As per 528btc, MicroStrategy's senior perpetual preferred stock STRF has surged 36% since its March issuance, currently trading at $110, a 20% rebound from November lows. The preferred stock offers a 10% annual cash dividend, with a current yield of approximately 9.03%, yet remains in strong demand due to its priority protection terms. The credit spread between STRF and subordinate preferred stock STRD peaked at a record 1.5x in November but has since narrowed to around 1.3x. MicroStrategy's stock has also rebounded, rising from $155 to around $185, driven by the company's $1.44 billion cash reserve announced for paying preferred stock dividends.
STRF Surges 36% Since March, Becomes Standout Credit Instrument Under Strategy
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