Stride price
Price chart for Stride (STRD) with a time-range selector. Between October 27, 2025 and October 27, 2026, STRD hit a high of 81.18 USD on December 8, 2025 and a low of 53.48 USD on June 22, 2026, a −9.7 % change over the period.
View the chart data (12 closes)
| Date | Close |
|---|---|
| 77.34 USD | |
| 79.30 USD | |
| 77.39 USD | |
| 71.50 USD | |
| 76.92 USD | |
| 77.14 USD | |
| 73.59 USD | |
| 53.48 USD | |
| 57.89 USD | |
| 72.05 USD | |
| 73.38 USD | |
| 69.87 USD |
Source: Yahoo Finance · data updated October 28, 2026.
Stride (STRD) is Strategy's fourth preferred issuance, with a 10% annual yield paid quarterly on a $100 par value. Although it shares its yield with STRF, STRD is non-cumulative — if Strategy cannot or chooses not to pay the dividend in a given quarter, the investor loses that payment with no future claim. This structural difference makes it the riskiest instrument in the series from a contractual-yield standpoint, and it typically trades at a somewhat lower secondary price. Strategy holds a redemption option from January 2028 onward.
How do you buy STRD?
Where they trade, which brokers list them —and why some do not— and how the dividend is withheld.
Track Stride in your portfolio
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Yield Calculator
Base price: $69.87 · snapshotIndicative calculation. Dividends depend on the issuer declaring them each period, are not guaranteed and exclude tax withholdings and broker fees. The share count rounds down and assumes a market purchase at the price shown.
Dividend History
Total paid: $2.50Instrument Terms
Capital Structure
Pari passu with STRK, STRF and STRC. Senior to MSTR common stock. Junior to debt.
Bitcoin Exposure
Same profile as the rest of the Strategy series: a fixed dollar dividend backed by the largest corporate BTC balance sheet in the world.
Specific Risks
5 factors identifiedIssuer credit risk
Strategy's preferreds are not collateralized by the company's Bitcoin reserves. They are an unsecured obligation: in a bankruptcy scenario, senior bondholders are paid first and preferred holders only recover from residual assets afterwards. The backing is credit-based, not a BTC collateral pledge. A severe and prolonged drop in the Bitcoin price could compromise the issuer's ability to service the dividends.
Non-cumulative dividend
If the issuer's board decides not to declare the dividend in a given period, the investor loses that payment with no future claim. Unlike a cumulative preferred, missed periods are not recovered when payments resume.
Call risk (early redemption)
From Jan 2028 onward, the issuer may redeem the issuance at par value ($100 per share). If market rates are lower than the current yield by then, it will likely do so: the investor gets the principal back and must reinvest it at worse yields. This scenario is especially relevant for instruments trading at a premium to par.
Interest rate sensitivity
Like any perpetual fixed income instrument, the secondary price moves inversely to rates. A significant rise in interest rates can cause sharp price declines even if the issuer keeps paying dividends on time. The effect grows with effective duration, and perpetuals are the most sensitive.
Stacked dividend obligations of the issuer
Strategy has issued 5 distinct fixed income instruments (STRK, STRF, STRC, STRD, STRE) coexisting in the same capital structure. Each new issuance adds dividend obligations on the same underlying Bitcoin balance sheet. In a prolonged BTC bear market, the issuer's cash flow to service all dividends simultaneously could compress and force prioritization decisions across issuances.
This risk analysis is for information purposes only and does not constitute financial advice. The official prospectuses (SEC) contain the full risk factor disclosure and should be reviewed before investing.
Frequently asked questions
What is STRD?
STRD (Stride) is a Strategy perpetual preferred, from November 2025. It pays 10% per year on a $100 stated amount, quarterly, and does not mature. Its distinguishing feature is that it is NOT cumulative: if Strategy skips a quarter, that dividend is lost rather than staying owed. That is why it is considered the riskiest of the series.
What does it mean that STRD is non-cumulative?
It means an undeclared dividend disappears. On STRK or STRF, whatever the company does not pay accumulates and has to be settled before any distribution to the common stock, so the payment is delayed rather than lost. STRD has no such backstop: a quarter that is not declared does not come back. It is the most important risk difference within Strategy's series.
Why does STRD pay the same as STRF if it carries more risk?
That is the right question, and the honest answer is that the contractual coupon does not capture the difference: both sit at 10% on a $100 stated amount. Where it does get captured is the market price, which is what sets the yield an investor buys today. The redemption dates also differ: STRF from May 2027 and STRD from January 2028.
Where can I buy STRD?
STRD trades in the United States, so you need a broker with access to that market that carries the ticker. US preferred stock is considerably less available on European retail brokers than common stock, so it is worth checking before opening an account.
Disclaimer: SatsIntel is for informational purposes only. It is not an authorized crypto-asset service provider (CASP) and does not provide financial, tax or legal advice. Crypto-assets are high-risk assets and may result in the total loss of the invested capital. See the legal terms.