Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Up 31.3% in February

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

Insider Buying and Selling

In other news, President Matthew L. Bloomfield acquired 4,000 shares of the business’s stock in a transaction on Thursday, March 6th. The shares were purchased at an average price of $15.48 per share, for a total transaction of $61,920.00. Following the completion of the purchase, the president now directly owns 41,478 shares of the company’s stock, valued at $642,079.44. This represents a 10.67 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 0.96% of the company’s stock.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several institutional investors have recently made changes to their positions in PSBD. FMR LLC grew 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 last quarter. Hennion & Walsh Asset Management Inc. grew its holdings 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 purchasing an additional 35,437 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of Palmer Square Capital BDC by 120.3% during the fourth quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock valued at $1,184,000 after purchasing an additional 42,533 shares during the last quarter. 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 purchasing an additional 6,250 shares during the last quarter. Finally, Franklin Resources Inc. grew its holdings in shares of Palmer Square Capital BDC by 72.0% during the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company’s stock valued at $880,000 after purchasing an additional 24,232 shares during the last quarter. 6.52% of the stock is owned by institutional investors.

Palmer Square Capital BDC Trading Up 0.7 %

NYSE PSBD traded up $0.10 on Tuesday, hitting $14.63. 24,321 shares of the stock traded hands, compared to its average volume of 25,424. The stock has a 50-day moving average of $15.47 and a 200 day moving average of $15.80. Palmer Square Capital BDC has a twelve month low of $14.23 and a twelve month high of $17.09. The company has a market capitalization of $476.95 million, a P/E ratio of 7.62 and a beta of 0.20.

Palmer Square Capital BDC Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 28th will be issued a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 9.85%. The ex-dividend date is Friday, March 28th. Palmer Square Capital BDC’s dividend payout ratio (DPR) 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.