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

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) gapped down prior to trading 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 changing hands.

Palmer Square Capital BDC Stock Performance

The stock has a market cap of $511.46 million and a PE ratio of 8.16. The firm’s 50-day moving average is $15.70 and its 200 day moving average is $16.03.

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. 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 currently 87.50%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Large investors have recently bought and sold shares of the company. Renaissance Technologies LLC purchased a new position in Palmer Square Capital BDC during the 2nd quarter worth $173,000. Hennion & Walsh Asset Management Inc. purchased a new position in Palmer Square Capital BDC during the 3rd quarter worth $792,000. Confluence Investment Management LLC raised its position in 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 buying an additional 18,842 shares during the last quarter. Finally, FMR LLC raised its position in 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 buying an additional 25,951 shares during the last quarter. Hedge funds and other institutional investors 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.