Insider Buying: Palmer Square Capital BDC Inc. (NYSE:PSBD) President Acquires 4,200 Shares of Stock

Palmer Square Capital BDC Inc. (NYSE:PSBD) President Matthew L. Bloomfield acquired 4,200 shares of Palmer Square Capital BDC stock in a transaction that occurred on Tuesday, March 4th. The stock was purchased at an average cost of $15.38 per share, with a total value of $64,596.00. Following the completion of the purchase, the president now owns 32,478 shares in the company, valued at $499,511.64. The trade was a 14.85 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Palmer Square Capital BDC Stock Performance

NYSE PSBD opened at $15.13 on Friday. The business has a fifty day moving average price of $15.54 and a 200 day moving average price of $15.87. Palmer Square Capital BDC Inc. has a one year low of $14.99 and a one year high of $17.09. The company has a market cap of $493.45 million, a P/E ratio of 7.88 and a beta of 0.20.

Palmer Square Capital BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 28th will be paid a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 9.52%. The ex-dividend date is Friday, March 28th. Palmer Square Capital BDC’s dividend payout ratio is currently 97.30%.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the company. Hennion & Walsh Asset Management Inc. raised 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 valued at $1,277,000 after purchasing an additional 35,437 shares during the last quarter. FMR LLC grew its holdings in Palmer Square Capital BDC by 7.3% in the 3rd 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 in the last quarter. Confluence Investment Management LLC grew its holdings in Palmer Square Capital BDC by 22.1% in the 3rd quarter. Confluence Investment Management LLC now owns 104,082 shares of the company’s stock valued at $1,697,000 after buying an additional 18,842 shares in the last quarter. Marble Harbor Investment Counsel LLC grew its holdings in Palmer Square Capital BDC by 24.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company’s stock valued at $486,000 after buying an additional 6,250 shares in the last quarter. Finally, Bank of America Corp DE grew its holdings in Palmer Square Capital BDC by 21.0% in the 4th quarter. Bank of America Corp DE now owns 262,383 shares of the company’s stock valued at $3,988,000 after buying an additional 45,519 shares in the last quarter. 6.52% of the stock is owned by institutional investors and hedge funds.

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.