Palmer Square Capital BDC (NYSE:PSBD) Sees Unusually-High Trading Volume – Time to Buy?

Palmer Square Capital BDC Inc. (NYSE:PSBD) shares saw unusually-strong trading volume on Friday . Approximately 14,226 shares changed hands during trading, a decline of 31% from the previous session’s volume of 20,627 shares.The stock last traded at $15.62 and had previously closed at $15.58.

Palmer Square Capital BDC Trading Up 0.3 %

The stock’s fifty day simple moving average is $15.70 and its 200-day simple moving average is $16.02. The company has a market capitalization of $516.85 million and a price-to-earnings ratio of 8.24.

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, January 13th. Investors of record on Friday, December 27th were issued a $0.42 dividend. The ex-dividend date of this dividend was Friday, December 27th. This represents a $1.68 dividend on an annualized basis and a yield of 10.61%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 87.50%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSBD. Renaissance Technologies LLC purchased a new stake in shares of Palmer Square Capital BDC during the 2nd quarter worth $173,000. Hennion & Walsh Asset Management Inc. acquired a new stake in Palmer Square Capital BDC during the third quarter worth approximately $792,000. Confluence Investment Management LLC lifted its position in shares of 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 buying an additional 18,842 shares during the last quarter. Finally, FMR LLC grew its position in shares of 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 during the last quarter. 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.