Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down – Should You Sell?

Palmer Square Capital BDC Inc. (NYSE:PSBDGet Free Report)’s share 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 trading hands.

Palmer Square Capital BDC Trading Down 1.3 %

The company has a market cap of $508.69 million and a price-to-earnings ratio of 8.11. The stock has a 50 day moving average price of $15.70 and a two-hundred day moving average price of $16.03.

Palmer Square Capital BDC Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a $0.42 dividend. This represents a $1.68 annualized dividend and a yield of 10.78%. The ex-dividend date of this dividend was Friday, December 27th. Palmer Square Capital BDC’s payout ratio is 87.50%.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of PSBD. Hennion & Walsh Asset Management Inc. raised its holdings in Palmer Square Capital BDC by 73.0% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock worth $1,277,000 after purchasing an additional 35,437 shares during the period. FMR LLC increased its position in shares of Palmer Square Capital BDC by 7.3% in 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 in the last quarter. Renaissance Technologies LLC acquired a new stake in Palmer Square Capital BDC during the 2nd quarter worth $173,000. Finally, Confluence Investment Management LLC lifted its holdings 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 acquiring an additional 18,842 shares in the last quarter. Institutional investors own 6.52% of the company’s stock.

Palmer Square Capital BDC Company Profile

(Get Free Report)

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.

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