Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down – Time to Sell?

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares gapped down before the market opened on Monday . The stock had previously closed at $16.00, but opened at $15.39. Palmer Square Capital BDC shares last traded at $15.51, with a volume of 1,805 shares trading hands.

Palmer Square Capital BDC Trading Down 1.4 %

The stock has a market cap of $499.50 million and a PE ratio of 7.97. The company’s 50 day moving average is $15.91 and its 200-day moving average is $16.16.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared 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 annualized dividend and a dividend yield of 10.98%. The ex-dividend date of this dividend is Friday, December 27th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 87.50%.

Institutional Trading of Palmer Square Capital BDC

A number of hedge funds have recently made changes to their positions in PSBD. FMR LLC increased its holdings in shares of Palmer Square Capital BDC by 7.3% during the third quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after purchasing an additional 25,951 shares during the period. Confluence Investment Management LLC lifted its holdings in shares of 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 buying an additional 18,842 shares during the period. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC in the 3rd quarter valued at about $792,000. Renaissance Technologies LLC bought a new position in shares of Palmer Square Capital BDC in the 2nd quarter valued at approximately $173,000. Finally, Marble Harbor Investment Counsel LLC acquired a new stake in Palmer Square Capital BDC in the 2nd quarter worth approximately $315,000. Institutional investors and hedge funds 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.