Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Update

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the recipient of a large growth in short interest in the month of March. As of March 31st, there was short interest totalling 30,200 shares, a growth of 24.8% from the March 15th total of 24,200 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 34,400 shares, the short-interest ratio is currently 0.9 days.

Insider Buying and Selling

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield purchased 4,000 shares of Palmer Square Capital BDC stock in a transaction that occurred on Thursday, March 6th. The stock was purchased at an average price of $15.48 per share, with a total value of $61,920.00. Following the completion of the acquisition, the president now owns 41,478 shares of the company’s stock, valued at approximately $642,079.44. This trade represents a 10.67 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.96% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several large investors have recently added to or reduced their stakes in PSBD. Hennion & Walsh Asset Management Inc. raised 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 worth $1,277,000 after purchasing an additional 35,437 shares during the period. Bank of New York Mellon Corp grew its position in shares of Palmer Square Capital BDC by 120.3% during the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock valued at $1,184,000 after buying an additional 42,533 shares during the last quarter. Marble Harbor Investment Counsel LLC raised its stake in 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 worth $486,000 after acquiring an additional 6,250 shares during the period. Franklin Resources Inc. lifted its holdings in 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 during the last quarter. Finally, Wells Fargo & Company MN boosted its stake in 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 valued at $114,000 after acquiring an additional 5,482 shares during the period. 6.52% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Separately, UBS Group dropped their price target on shares of Palmer Square Capital BDC from $16.50 to $14.00 and set a “neutral” rating for the company in a research note on Thursday.

Palmer Square Capital BDC Trading Down 2.5 %

Palmer Square Capital BDC stock traded down $0.34 during midday trading on Friday, hitting $12.81. The stock had a trading volume of 26,937 shares, compared to its average volume of 27,745. The business has a fifty day moving average price of $14.39 and a 200 day moving average price of $15.32. Palmer Square Capital BDC has a 12 month low of $11.89 and a 12 month high of $17.02. The stock has a market cap of $417.60 million, a P/E ratio of 6.67 and a beta of 0.60.

Palmer Square Capital BDC Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, April 10th. Stockholders of record on Friday, March 28th were issued a $0.36 dividend. The ex-dividend date of this dividend was Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.25%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 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.