Palmer Square Capital BDC Inc. (NYSE:PSBD) Sees Large Decline in Short Interest

Palmer Square Capital BDC Inc. (NYSE:PSBD) saw a large decline in short interest in February. As of February 15th, there was short interest totalling 18,200 shares, a decline of 12.5% from the January 31st total of 20,800 shares. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is presently 0.9 days. Approximately 0.1% of the shares of the stock are sold short.

Insider Activity

In related news, President Matthew L. Bloomfield purchased 4,200 shares of Palmer Square Capital BDC stock in a transaction dated Tuesday, March 4th. The shares were bought at an average cost of $15.38 per share, for a total transaction of $64,596.00. Following the purchase, the president now owns 32,478 shares in the company, valued at approximately $499,511.64. This trade represents a 14.85 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.96% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Confluence Investment Management LLC lifted its holdings in Palmer Square Capital BDC by 22.1% in the third 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 during the period. FMR LLC boosted its position in shares of Palmer Square Capital BDC by 7.3% during the 3rd quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after purchasing an additional 25,951 shares in the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in 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 increased its holdings in Palmer Square Capital BDC by 120.3% in the fourth quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company’s stock worth $1,184,000 after purchasing an additional 42,533 shares in the last quarter. Finally, Marble Harbor Investment Counsel LLC lifted its stake in 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 valued at $486,000 after buying an additional 6,250 shares during the period. Institutional investors and hedge funds own 6.52% of the company’s stock.

Palmer Square Capital BDC Stock Up 0.4 %

Shares of PSBD stock traded up $0.07 during trading hours on Friday, hitting $15.49. 8,745 shares of the company’s stock traded hands, compared to its average volume of 26,388. Palmer Square Capital BDC has a 12 month low of $14.99 and a 12 month high of $17.09. The stock has a market cap of $505.00 million, a PE ratio of 8.07 and a beta of 0.20. The stock’s 50 day simple moving average is $15.55 and its 200 day simple moving average is $15.88.

Palmer Square Capital BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 28th will be given a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 9.30%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 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.