Palmer Square Capital BDC (NYSE:PSBD) Sees Strong Trading Volume After Dividend Announcement

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) saw strong trading volume on Friday following a dividend announcement from the company. 20,702 shares changed hands during mid-day trading, a decline of 4% from the previous session’s volume of 21,469 shares.The stock last traded at $15.35 and had previously closed at $15.42.

The newly announced dividend which will be paid on Thursday, April 10th. Investors of record on Friday, March 28th will be paid a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 9.35%. Palmer Square Capital BDC’s dividend payout ratio is currently 97.30%.

Palmer Square Capital BDC Trading Down 0.1 %

The stock has a market cap of $502.76 million and a price-to-earnings ratio of 8.02. The company has a fifty day simple moving average of $15.58 and a 200-day simple moving average of $15.90.

Institutional Investors Weigh In On Palmer Square Capital BDC

Large investors have recently made changes to their positions in the company. Cubist Systematic Strategies LLC boosted its stake in Palmer Square Capital BDC by 995.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company’s stock worth $37,000 after purchasing an additional 2,211 shares during the period. Wells Fargo & Company MN boosted its position in shares of Palmer Square Capital BDC by 271.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock worth $114,000 after buying an additional 5,482 shares during the period. Marble Harbor Investment Counsel LLC grew its holdings in shares of Palmer Square Capital BDC by 24.3% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock valued at $486,000 after buying an additional 6,250 shares in the last quarter. Citadel Advisors LLC raised its position in Palmer Square Capital BDC by 32.9% during the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock valued at $641,000 after buying an additional 10,457 shares during the period. Finally, Confluence Investment Management LLC lifted its stake in Palmer Square Capital BDC by 22.1% in 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 in the last quarter. Institutional investors and hedge funds own 6.52% of the company’s stock.

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.