VanEck’s PFXF raises Strategy Stretch STRC stake to 2.42 million shares

VanEck’s Preferred Securities ex-Financials ETF PFXF further increased its holding in Strategy Stretch preferred stock, with fund data on VanEck’s website showing the position at about 2.42 million shares as of July 16. The stake was valued at roughly $207 million and accounted for 8.63% of net assets, making STRC the ETF’s largest holding. PFXF’s total assets were about $2.40 billion. The buying comes as Strategy has been using preferred securities tied to its Bitcoin-heavy treasury strategy to attract income-focused investors, including through STRC, a perpetual preferred instrument designed to trade near a $100 par value with variable cash dividends. Strategy recently raised STRC’s annualized dividend rate to 12%, paid semi-monthly, as part of a broader capital framework announced in late June that also included up to $1 billion in repurchases of its digital credit securities, common stock buybacks and a selective BTC monetization program to support reserves if needed. The update also refines earlier figures that had put VanEck’s position at $209 million and more than 8.75% of net assets.