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

Palmer Square Capital BDC Inc. (NYSE:PSBD) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 23,900 shares, an increase of 31.3% from the February 13th total of 18,200 shares. Approximately 0.2% of the company’s shares are short sold. Based on an average trading volume of 22,900 shares, the short-interest ratio is presently 1.0 days.

Palmer Square Capital BDC Stock Down 1.2 %

PSBD stock opened at $14.46 on Monday. The firm has a 50 day moving average of $15.49 and a two-hundred day moving average of $15.81. Palmer Square Capital BDC has a 12 month low of $14.23 and a 12 month high of $17.09. The company has a market capitalization of $471.57 million, a price-to-earnings ratio of 7.53 and a beta of 0.20.

Palmer Square Capital BDC Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 28th will be paid a dividend of $0.36 per share. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 9.96%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 97.30%.

Insider Transactions at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield acquired 4,000 shares of the stock in a transaction that occurred on Thursday, March 6th. The shares were purchased at an average cost of $15.48 per share, with a total value of $61,920.00. Following the completion of the transaction, 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 filing with the SEC, which can be accessed through this link. 0.96% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Pandi LLC acquired a new position in shares of Palmer Square Capital BDC during the 4th quarter worth $13,860,000. Cubist Systematic Strategies LLC grew its stake in Palmer Square Capital BDC by 995.9% in the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company’s stock valued at $37,000 after buying an additional 2,211 shares during the last quarter. Citadel Advisors LLC grew its stake in Palmer Square Capital BDC by 32.9% in the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock valued at $641,000 after buying an additional 10,457 shares during the last quarter. Bank of America Corp DE grew its stake 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 during the last quarter. Finally, 1248 Management LLC acquired a new position in Palmer Square Capital BDC in the 4th quarter valued at $34,064,000. Institutional investors and hedge funds own 6.52% of the company’s stock.

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.