Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down – Time to Sell?

Shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) gapped down before the market opened on Tuesday . The stock had previously closed at $15.97, but opened at $15.31. Palmer Square Capital BDC shares last traded at $15.93, with a volume of 1,424 shares.

Palmer Square Capital BDC Trading Down 1.3 %

The stock has a market cap of $508.69 million and a price-to-earnings ratio of 8.11. The company has a 50 day simple moving average of $15.70 and a 200-day simple moving average of $16.03.

Palmer Square Capital BDC Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, January 13th. Shareholders of record on Friday, December 27th were paid a $0.42 dividend. The ex-dividend date was Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.78%. Palmer Square Capital BDC’s payout ratio is currently 87.50%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC during the third quarter worth approximately $792,000. FMR LLC increased 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 worth $6,245,000 after purchasing an additional 25,951 shares during the period. Confluence Investment Management LLC lifted 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 worth $1,697,000 after purchasing an additional 18,842 shares during the last quarter. Finally, Renaissance Technologies LLC bought a new stake in Palmer Square Capital BDC in the 2nd quarter valued at $173,000. 6.52% of the stock is owned by institutional investors.

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.