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

Palmer Square Capital BDC Inc. (NYSE:PSBD)’s share price reached a new 52-week low during trading on Wednesday . The stock 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 Performance

The firm has a market capitalization of $493.62 million and a PE ratio of 7.88. The firm’s 50-day moving average is $15.75 and its 200 day moving average is $16.07.

Palmer Square Capital BDC Announces Dividend

The business 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 dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.11%. 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

Institutional investors and hedge funds have recently bought and sold shares of the business. FMR LLC boosted its stake in shares of Palmer Square Capital BDC by 7.3% during the 3rd 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. Confluence Investment Management LLC lifted its stake in 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 during the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Palmer Square Capital BDC during the third quarter valued at $792,000. Marble Harbor Investment Counsel LLC acquired a new position in shares of Palmer Square Capital BDC during the second quarter valued at $315,000. Finally, Renaissance Technologies LLC acquired a new position in shares of Palmer Square Capital BDC during the second quarter valued at $173,000. 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.