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

Palmer Square Capital BDC Inc. (NYSE:PSBD) reached a new 52-week low during mid-day trading on Tuesday . The company traded as low as $15.12 and last traded at $15.37, with a volume of 22934 shares. The stock had previously closed at $15.15.

Palmer Square Capital BDC Stock Performance

The firm has a market cap of $509.67 million and a P/E ratio of 8.13. The firm’s fifty day moving average is $15.72 and its 200 day moving average is $16.05.

Palmer Square Capital BDC Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were given a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 10.76%. The ex-dividend date was Friday, December 27th. Palmer Square Capital BDC’s payout ratio is 87.50%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of PSBD. Renaissance Technologies LLC bought a new stake in shares of Palmer Square Capital BDC during the 2nd quarter valued at $173,000. Hennion & Walsh Asset Management Inc. bought a new stake in Palmer Square Capital BDC during the third quarter worth about $792,000. Confluence Investment Management LLC grew its stake 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 worth $1,697,000 after buying an additional 18,842 shares in the last quarter. Finally, FMR LLC grew its stake in Palmer Square Capital BDC by 7.3% during the third quarter. FMR LLC now owns 383,125 shares of the company’s stock worth $6,245,000 after buying an additional 25,951 shares in the last quarter. 6.52% of the stock is currently owned by institutional investors and hedge funds.

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.