Robinhood has expanded its product lineup by enabling trading of Strategy Inc.’s preferred equities STRC, STRK, and STRF. Preferred equities, often called preferred shares, are a hybrid security that typically pay fixed dividends and rank above common stock in claims but do not carry voting rights. The move marks Robinhood’s first step into preferred stock after previously focusing on common equities, ETFs, and options. STRC debuted in a $2.5 billion IPO followed by a $4.2 billion at-the-market sale, paying a variable monthly dividend aimed at holding its price near $100 as a bitcoin-backed money market alternative. STRK carries an 8% fixed dividend and a conversion feature allowing holders to swap into common stock if Strategy’s share price hits $1,000. STRF offers a 10% fixed dividend with an escalating rate up to 18% if payments are missed, backed by a $2.1 billion issuance program. Together, the listings highlight Robinhood’s effort to broaden its retail offering amid rising demand for higher-yield securities tied to digital asset-backed structures.