Palmer Square Capital BDC Inc. (NYSE:PSBD) President Matthew L. Bloomfield Acquires 4,000 Shares

Palmer Square Capital BDC Inc. (NYSE:PSBD) President Matthew L. Bloomfield purchased 4,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $15.48 per share, with a total value of $61,920.00. Following the transaction, the president now owns 41,478 shares in the company, valued at $642,079.44. The trade was a 10.67 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website.

Palmer Square Capital BDC Stock Performance

NYSE:PSBD opened at $15.13 on Friday. The firm has a market cap of $493.45 million, a P/E ratio of 7.88 and a beta of 0.20. Palmer Square Capital BDC Inc. has a fifty-two week low of $14.99 and a fifty-two week high of $17.09. The firm has a 50-day simple moving average of $15.54 and a two-hundred day simple moving average of $15.87.

Palmer Square Capital BDC Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 28th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 9.52%. The ex-dividend date of this dividend is Friday, March 28th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is currently 97.30%.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of hedge funds have recently added to or reduced their stakes in PSBD. Confluence Investment Management LLC increased its holdings in shares of 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 worth $1,697,000 after purchasing an additional 18,842 shares in the last quarter. FMR LLC boosted its position in shares of 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 during the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in shares of Palmer Square Capital BDC by 73.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock valued at $1,277,000 after buying an additional 35,437 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Palmer Square Capital BDC by 120.3% in the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock worth $1,184,000 after buying an additional 42,533 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC raised its position in Palmer Square Capital BDC by 24.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock worth $486,000 after buying an additional 6,250 shares during the last quarter. 6.52% of the stock is currently owned by hedge funds and other institutional investors.

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.