Palmer Square Capital BDC Inc. (NYSE:PSBD) Stock Position Boosted by Bank of New York Mellon Corp

Bank of New York Mellon Corp grew its stake in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 120.3% during the fourth quarter, Holdings Channel reports. The institutional investor owned 77,878 shares of the company’s stock after acquiring an additional 42,533 shares during the period. Bank of New York Mellon Corp’s holdings in Palmer Square Capital BDC were worth $1,184,000 at the end of the most recent reporting period.

Separately, Hennion & Walsh Asset Management Inc. increased its stake in shares of Palmer Square Capital BDC by 73.0% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock valued at $1,277,000 after acquiring an additional 35,437 shares during the period. 6.52% of the stock is currently owned by institutional investors.

Insider Activity at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield acquired 4,200 shares of Palmer Square Capital BDC stock in a transaction dated Tuesday, March 4th. The stock was acquired at an average cost of $15.38 per share, with a total value of $64,596.00. Following the purchase, the president now directly owns 32,478 shares in the company, valued at $499,511.64. The trade was a 14.85 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.96% of the company’s stock.

Palmer Square Capital BDC Price Performance

Shares of NYSE:PSBD opened at $14.36 on Tuesday. The stock’s 50 day moving average price is $15.40 and its 200 day moving average price is $15.74. The stock has a market cap of $468.31 million, a price-to-earnings ratio of 7.48 and a beta of 0.20. Palmer Square Capital BDC Inc. has a 12 month low of $13.53 and a 12 month 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. Stockholders of record on Friday, March 28th will be issued a $0.36 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 10.03%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 97.30%.

Palmer Square Capital BDC 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.