Palmer Square Capital BDC Inc. (NYSE:PSBD) Sees Large Growth in Short Interest

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the target of a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 23,900 shares, a growth of 31.3% from the February 13th total of 18,200 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 22,900 shares, the short-interest ratio is currently 1.0 days.

Insider Activity

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield purchased 4,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was acquired at an average cost of $15.48 per share, with a total value of $61,920.00. Following the acquisition, the president now owns 41,478 shares of the company’s stock, valued at approximately $642,079.44. This represents a 10.67 % increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Company insiders own 0.96% of the company’s stock.

Institutional Trading of Palmer Square Capital BDC

Hedge funds have recently bought and sold shares of the company. Hennion & Walsh Asset Management Inc. lifted its position in Palmer Square Capital BDC by 73.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock valued at $1,277,000 after purchasing an additional 35,437 shares during the last quarter. FMR LLC raised its position 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 buying an additional 25,951 shares in the last quarter. Marble Harbor Investment Counsel LLC raised its position in shares of Palmer Square Capital BDC by 24.3% during the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock worth $486,000 after buying an additional 6,250 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Palmer Square Capital BDC by 32.9% during the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock worth $641,000 after buying an additional 10,457 shares in the last quarter. Finally, Bank of America Corp DE raised its position in shares of Palmer Square Capital BDC by 21.0% during the 4th quarter. Bank of America Corp DE now owns 262,383 shares of the company’s stock worth $3,988,000 after buying an additional 45,519 shares in the last quarter. 6.52% of the stock is currently owned by institutional investors.

Palmer Square Capital BDC Stock Down 1.2 %

Shares of NYSE:PSBD opened at $14.46 on Monday. The company has a market cap of $471.57 million, a PE ratio of 7.53 and a beta of 0.20. The company’s 50-day moving average price is $15.49 and its 200 day moving average price is $15.81. Palmer Square Capital BDC has a fifty-two week low of $14.23 and a fifty-two week high of $17.09.

Palmer Square Capital BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 28th will be given a $0.36 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 9.96%. Palmer Square Capital BDC’s dividend payout ratio is presently 97.30%.

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.