Palmer Square Capital BDC (NYSE:PSBD) Sets New 52-Week Low – Here’s What Happened

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.20 and last traded at $15.20, with a volume of 21110 shares trading hands. The stock had previously closed at $15.41.

Palmer Square Capital BDC Stock Up 1.2 %

The stock has a market cap of $502.11 million and a price-to-earnings ratio of 8.01. The business has a 50-day moving average of $15.83 and a 200-day moving average of $16.13.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.42 per share. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.92%. Palmer Square Capital BDC’s payout ratio is 87.50%.

Institutional Trading of Palmer Square Capital BDC

Institutional investors have recently bought and sold shares of the company. Renaissance Technologies LLC bought a new position in Palmer Square Capital BDC during the second quarter valued at about $173,000. Marble Harbor Investment Counsel LLC bought a new position in Palmer Square Capital BDC during the second quarter valued at about $315,000. Hennion & Walsh Asset Management Inc. bought a new position in Palmer Square Capital BDC during the third quarter valued at about $792,000. Confluence Investment Management LLC raised its holdings in Palmer Square Capital BDC by 22.1% during the third quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock valued at $1,697,000 after buying an additional 18,842 shares in the last quarter. Finally, FMR LLC raised its holdings in Palmer Square Capital BDC by 7.3% during the third quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after buying an additional 25,951 shares in the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc is an externally managed, non-diversified closed-end management investment company which primarily lends to and invests in corporate debt securities, including small to large private U.S. companies and has elected to be regulated as a business development company. Palmer Square Capital BDC Inc is based in MISSION WOODS, Kan.