BlackRock Boosts Stake in Investment Strategy: The financial giant’s increased ownership of Strategy to 5% has sent shockwaves through the market, with its perpetual preferred stock seeing a significant surge in pre-market trading.
BlackRock‘s ownership of Strategy has increased to 5%, according to the latest 13-G filing.
This marks a significant ‘increase’ from its previous 4.09% ownership as of September 30, 2024.
BlackRock is a global investment management company founded in 1988 by Larry Fink.
It is headquartered in New York City and has become one of the largest asset managers in the world, with over $9 trillion in assets under management as of 2022.
The company offers a range of investment products and services to institutional and individual investors, including exchange-traded funds (ETFs), mutual funds, and other investment vehicles.
Strategy‘s perpetual preferred stock (STRK) is up 5% in pre-market trading, building on its 2% gain during its Nasdaq debut.
STRK began trading on the Nasdaq on Thursday and has continued its upward momentum, with over 650,000 shares traded.
A Schedule 13G filing is made when an investor, such as BlackRock, acquires more than 5% of a publicly traded company’s stock but does not intend to influence or control the company.
Institutional investors must file within 45 days after year-end or within 10 days if ownership exceeds 10%.
BlackRock had until Feb 14 to disclose its position, as its filing date was Dec 31, 2024.
In a recent Schedule 13G filing, BlackRock disclosed that it now owns 5% of Strategy (MSTR), equivalent to approximately 11.2 million shares.
This increase in ownership is significant and has been met with growth in Strategy‘s perpetual preferred stock.
- coindesk.com | BlackRock Increases Ownership of Strategy to 5%
