Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down – What’s Next?

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) gapped down before the market opened on Monday . The stock had previously closed at $16.00, but opened at $15.39. Palmer Square Capital BDC shares last traded at $15.51, with a volume of 1,805 shares traded.

Palmer Square Capital BDC Stock Performance

The company has a market cap of $499.50 million and a price-to-earnings ratio of 7.97. The stock’s fifty day simple moving average is $15.91 and its two-hundred day simple moving average is $16.16.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be paid a $0.42 dividend. This represents a $1.68 annualized dividend and a dividend yield of 10.98%. The ex-dividend date of this dividend is Friday, December 27th. Palmer Square Capital BDC’s dividend payout ratio is currently 87.50%.

Institutional Trading of Palmer Square Capital BDC

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