***** Not Financial Advice, dyor, I have no college degree ***** Perpetual, too, but unfortunately, trading above par Since they are lower risk than 30y UST, they should be trading with a lower yield than 30y UST, or about $170+/share strk should replace the 40 on the 60-40 portfolio strk, strf, strd (junk bond terms) designed by AI strk and strf are best performing preferred shares since issuance
I heard on YouTube podcasts based on preferred shares seniorage claim to assets minus liabilities https://www.strategy.com/
The numbers are published as required by SEC, (convertible) debt, value of bitcoin treasury asset and the senior claims to those bitcoin ahead of mstr common shares at the bottom
It takes mstr a few hours to generate the $ to pay the dividend obligations for strk, and strf They sold mstr ATM shares last week for the dividends, and still had over $470M leftover to purchase bitcoin, increasing the bitcoin treasury asset value even higher Additional permanent capital (bitcoin treasury asset) on the balance sheet without debt obligations
These preferred shares are "uninvestable" by over 90% of the fixed income investors as they are not rated mstr is in the Nasdaq 100, MSCI and today was added to the Russel Top 200 Value Index If mstr gets added to the S&P 500, these preferred shares should be rated Saylor has not been shy to tell everyone he wants 1% of the $300 Trillion global fixed income market
I don't think this is normal price action for preferred shares, but I did say strk should be trading above $170/share on the OP
After market hours, strk is still going up a lot... strk is unique from strf and strd as it has a "call option" as well, 10 to 1, when mstr hits $1000/sh