STRF vs. STRD Preferred Stocks: A Comparative Analysis

Strategy Inc. (formerly MicroStrategy) offers two perpetual preferred stocks, STRF (Strife) and STRD (Stride), both facilitating Bitcoin purchases and working capital. While both carry a 10% cash dividend on a $100 par, STRF is senior, cumulative, and targets conservative investors, trading closer to par with lower effective yields. STRD is junior, non-cumulative, targets high-yield investors, and trades at a deeper discount, offering a higher effective yield to compensate for increased risk.