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

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the recipient of a significant increase in short interest in the month of 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 short-interest ratio is presently 1.0 days. Approximately 0.2% of the company’s shares are short sold.

Palmer Square Capital BDC Stock Up 0.7 %

Shares of NYSE PSBD traded up $0.10 on Tuesday, hitting $14.63. The company had a trading volume of 24,321 shares, compared to its average volume of 25,424. Palmer Square Capital BDC has a 12-month low of $14.23 and a 12-month high of $17.09. The business has a 50 day moving average of $15.47 and a two-hundred day moving average of $15.80. The firm 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 given a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 9.85%. The ex-dividend date of this dividend is Friday, March 28th. Palmer Square Capital BDC’s payout ratio is 97.30%.

Insider Buying and Selling at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield bought 4,000 shares of the firm’s stock in a transaction dated Thursday, March 6th. The stock was bought at an average price of $15.48 per share, with a total value of $61,920.00. Following the completion of the transaction, the president now directly owns 41,478 shares of the company’s stock, valued at approximately $642,079.44. This represents a 10.67 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.96% of the stock is owned by company insiders.

Institutional Investors Weigh In On Palmer Square Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the stock. Cubist Systematic Strategies LLC lifted its stake in shares of Palmer Square Capital BDC by 995.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company’s stock worth $37,000 after acquiring an additional 2,211 shares in the last quarter. Wells Fargo & Company MN lifted its stake in shares of Palmer Square Capital BDC by 271.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company’s stock worth $114,000 after acquiring an additional 5,482 shares in the last quarter. Marble Harbor Investment Counsel LLC lifted its stake in shares of Palmer Square Capital BDC by 24.3% in the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock worth $486,000 after acquiring an additional 6,250 shares in the last quarter. Citadel Advisors LLC lifted its stake in shares of Palmer Square Capital BDC by 32.9% in the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock worth $641,000 after acquiring an additional 10,457 shares in the last quarter. Finally, Franklin Resources Inc. lifted its stake in shares of Palmer Square Capital BDC by 72.0% in the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company’s stock worth $880,000 after acquiring an additional 24,232 shares in the last quarter. Hedge funds and other institutional investors 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.