Palmer Square Capital BDC (NYSE:PSBD) Reaches New 52-Week Low – What’s Next?

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $15.16 and last traded at $15.22, with a volume of 19751 shares. The stock had previously closed at $15.34.

Palmer Square Capital BDC Stock Performance

The stock has a market capitalization of $496.89 million and a P/E ratio of 7.93. The firm has a 50-day moving average price of $15.79 and a 200 day moving average price of $16.10.

Palmer Square Capital BDC Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, January 13th. Shareholders of record on Friday, December 27th will be given a dividend of $0.42 per share. This represents a $1.68 dividend on an annualized basis and a yield of 11.04%. The ex-dividend date of this dividend is Friday, December 27th. Palmer Square Capital BDC’s payout ratio is currently 87.50%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Large investors have recently added to or reduced their stakes in the business. FMR LLC grew its stake 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 buying an additional 25,951 shares during the last quarter. Confluence Investment Management LLC boosted its holdings in Palmer Square Capital BDC by 22.1% during the 3rd quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock valued at $1,697,000 after acquiring an additional 18,842 shares during the period. Hennion & Walsh Asset Management Inc. purchased a new stake in Palmer Square Capital BDC during the 3rd quarter valued at about $792,000. Marble Harbor Investment Counsel LLC bought a new position in Palmer Square Capital BDC during the 2nd quarter worth approximately $315,000. Finally, Renaissance Technologies LLC purchased a new position in Palmer Square Capital BDC in the 2nd quarter worth approximately $173,000. Hedge funds and other institutional investors 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.