Palmer Square Capital BDC (NYSE:PSBD) Sees Unusually-High Trading Volume – What’s Next?

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares saw strong trading volume on Friday . 14,226 shares were traded during trading, a decline of 31% from the previous session’s volume of 20,627 shares.The stock last traded at $15.62 and had previously closed at $15.58.

Palmer Square Capital BDC Trading Up 0.3 %

The firm has a market cap of $516.85 million and a price-to-earnings ratio of 8.24. The firm has a 50 day moving average price of $15.70 and a 200-day moving average price of $16.02.

Palmer Square Capital BDC Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, January 13th. Stockholders of record on Friday, December 27th were paid a dividend of $0.42 per share. The ex-dividend date was Friday, December 27th. This represents a $1.68 dividend on an annualized basis and a dividend yield of 10.61%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 87.50%.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Renaissance Technologies LLC acquired a new stake in Palmer Square Capital BDC during the second quarter worth approximately $173,000. Confluence Investment Management LLC grew its position 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 purchasing an additional 18,842 shares during the period. FMR LLC increased its stake in Palmer Square Capital BDC by 7.3% in 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. Finally, Hennion & Walsh Asset Management Inc. boosted its stake 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 worth $1,277,000 after buying an additional 35,437 shares during the last quarter. 6.52% of the stock is currently owned by institutional investors and hedge funds.

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.