Palmer Square Capital BDC (NYSE:PSBD) Reaches New 52-Week Low – Here’s Why

Palmer Square Capital BDC Inc. (NYSE:PSBD)’s share price hit a new 52-week low during mid-day trading on Wednesday . The stock traded as low as $15.16 and last traded at $15.22, with a volume of 19751 shares changing hands. The stock had previously closed at $15.34.

Palmer Square Capital BDC Trading Down 1.4 %

The firm has a market capitalization of $493.62 million and a price-to-earnings ratio of 7.88. The company has a fifty day moving average price of $15.75 and a 200-day moving average price of $16.07.

Palmer Square Capital BDC Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a $0.42 dividend. This represents a $1.68 dividend on an annualized basis and a dividend yield of 11.11%. The ex-dividend date is Friday, December 27th. Palmer Square Capital BDC’s payout ratio is 87.50%.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Renaissance Technologies LLC bought a new stake in Palmer Square Capital BDC in the second quarter valued at $173,000. Confluence Investment Management LLC boosted its holdings 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 acquiring an additional 18,842 shares during the last quarter. Marble Harbor Investment Counsel LLC bought a new position in Palmer Square Capital BDC in the second quarter valued at about $315,000. FMR LLC boosted its holdings in Palmer Square Capital BDC by 7.3% in the third quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after acquiring an additional 25,951 shares during the last quarter. Finally, Hennion & Walsh Asset Management Inc. acquired a new position in Palmer Square Capital BDC in the third quarter valued at about $792,000. 6.52% of the stock is owned by 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.