Final answer:
Preferred stock is a type of stock that gives owners a priority claim to profits without voting rights in the company's decisions.
Step-by-step explanation:
The type of stock that grants its owners a priority claim to profits but does not confer voting rights regarding the running of the company is known as preferred stock. Preferred stockholders are typically compensated before common stockholders when dividends are issued, making this investment a potentially lower risk. However, in exchange for this priority claim on assets, preferred shareholders usually do not have voting rights in company elections, which are commonly associated with common stock.