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 on Wednesday . The stock traded as low as $15.20 and last traded at $15.20, with a volume of 21110 shares traded. The stock had previously closed at $15.41.

Palmer Square Capital BDC Stock Up 1.2 %

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

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Stockholders of record on Friday, December 27th will be given a $0.42 dividend. The ex-dividend date is Friday, December 27th. This represents a $1.68 annualized dividend and a dividend yield of 10.92%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 87.50%.

Institutional Trading of Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently modified their holdings of PSBD. Marble Harbor Investment Counsel LLC acquired a new stake in shares of Palmer Square Capital BDC in the second quarter worth $315,000. Renaissance Technologies LLC acquired a new stake in shares of Palmer Square Capital BDC in the second quarter worth $173,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Palmer Square Capital BDC in the third quarter worth $792,000. Confluence Investment Management LLC boosted its position 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 purchasing an additional 18,842 shares during the last quarter. Finally, FMR LLC boosted its position 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 purchasing an additional 25,951 shares during the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

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.