Palmer Square Capital BDC (NYSE:PSBD) Hits New 12-Month Low – Here’s What Happened

Palmer Square Capital BDC Inc. (NYSE:PSBD) hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.16 and last traded at $15.22, with a volume of 19751 shares traded. The stock had previously closed at $15.34.

Palmer Square Capital BDC Stock Down 0.8 %

The stock has a 50 day simple moving average of $15.79 and a 200 day simple moving average of $16.10. The stock has a market cap of $496.89 million and a price-to-earnings ratio of 7.93.

Palmer Square Capital BDC Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be issued a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date is Friday, December 27th. Palmer Square Capital BDC’s dividend payout ratio is 87.50%.

Institutional Trading of Palmer Square Capital BDC

A number of large investors have recently added to or reduced their stakes in PSBD. FMR LLC increased its stake in shares of Palmer Square Capital BDC by 7.3% in the third quarter. FMR LLC now owns 383,125 shares of the company’s stock worth $6,245,000 after purchasing an additional 25,951 shares in the last quarter. Confluence Investment Management LLC grew its stake in Palmer Square Capital BDC by 22.1% in the 3rd 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. Hennion & Walsh Asset Management Inc. bought a new stake in Palmer Square Capital BDC during the 3rd quarter valued at $792,000. Marble Harbor Investment Counsel LLC purchased a new stake in shares of Palmer Square Capital BDC during the second quarter worth $315,000. Finally, Renaissance Technologies LLC bought a new position in shares of Palmer Square Capital BDC in the second quarter worth $173,000. Hedge funds and other institutional investors 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.