Palmer Square Capital BDC (NYSE:PSBD) Sets New 52-Week Low – Should You Sell?

Palmer Square Capital BDC Inc. (NYSE:PSBD)’s share price hit a new 52-week low on Tuesday . The company traded as low as $15.12 and last traded at $15.37, with a volume of 22934 shares trading hands. The stock had previously closed at $15.15.

Palmer Square Capital BDC Price Performance

The stock has a market cap of $509.67 million and a price-to-earnings ratio of 8.13. The business’s 50-day simple moving average is $15.72 and its two-hundred day simple moving average is $16.05.

Palmer Square Capital BDC Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were given a dividend of $0.42 per share. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.76%. Palmer Square Capital BDC’s dividend payout ratio is presently 87.50%.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSBD. Renaissance Technologies LLC acquired a new position in shares of Palmer Square Capital BDC during the second quarter worth $173,000. Confluence Investment Management LLC raised its position 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. FMR LLC lifted its holdings in Palmer Square Capital BDC by 7.3% during the 3rd quarter. FMR LLC now owns 383,125 shares of the company’s stock worth $6,245,000 after buying an additional 25,951 shares during the period. Finally, Hennion & Walsh Asset Management Inc. grew its position in shares of 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 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.