Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down – Here’s Why

Palmer Square Capital BDC Inc. (NYSE:PSBD)’s stock price gapped down before the market opened on Tuesday . The stock had previously closed at $15.97, but opened at $15.31. Palmer Square Capital BDC shares last traded at $15.93, with a volume of 1,424 shares traded.

Palmer Square Capital BDC Trading Down 1.9 %

The firm has a market capitalization of $511.46 million and a price-to-earnings ratio of 8.16. The stock’s 50 day moving average price is $15.70 and its two-hundred day moving average price is $16.03.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were paid a $0.42 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.72%. Palmer Square Capital BDC’s payout ratio is 87.50%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Several hedge funds have recently modified their holdings of the company. Renaissance Technologies LLC acquired a new stake in shares of Palmer Square Capital BDC during the 2nd quarter worth about $173,000. Confluence Investment Management LLC lifted its holdings in shares of Palmer Square Capital BDC by 22.1% during the 3rd quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock worth $1,697,000 after acquiring an additional 18,842 shares during the period. FMR LLC lifted its holdings 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 worth $6,245,000 after acquiring an additional 25,951 shares during the period. Finally, Hennion & Walsh Asset Management Inc. lifted its holdings in shares of Palmer Square Capital BDC by 73.0% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock worth $1,277,000 after acquiring an additional 35,437 shares during the period. 6.52% of the stock is owned by institutional investors and hedge funds.

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.