Franklin Resources Inc. Cuts Stock Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Franklin Resources Inc. trimmed its position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 30.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 33,634 shares of the company’s stock after selling 15,031 shares during the quarter. Franklin Resources Inc. owned 0.10% of Palmer Square Capital BDC worth $541,000 at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of PSBD. Renaissance Technologies LLC purchased a new position in shares of Palmer Square Capital BDC in the second quarter valued at approximately $173,000. Marble Harbor Investment Counsel LLC purchased a new position in Palmer Square Capital BDC in the 2nd quarter valued at approximately $315,000. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Palmer Square Capital BDC in the third quarter worth $792,000. Confluence Investment Management LLC grew its stake in shares of 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 worth $1,697,000 after acquiring an additional 18,842 shares in the last quarter. Finally, FMR LLC raised its stake in shares of Palmer Square Capital BDC by 7.3% in the third quarter. FMR LLC now owns 383,125 shares of the company’s stock valued at $6,245,000 after acquiring an additional 25,951 shares in the last quarter. 6.52% of the stock is owned by institutional investors and hedge funds.

Palmer Square Capital BDC Price Performance

Shares of NYSE PSBD opened at $15.41 on Tuesday. The company has a market cap of $503.09 million and a price-to-earnings ratio of 8.03. The stock’s 50-day moving average is $15.89 and its two-hundred day moving average is $16.15. Palmer Square Capital BDC Inc. has a 1-year low of $15.27 and a 1-year high of $17.12.

Palmer Square Capital BDC Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be issued a $0.42 dividend. The ex-dividend date of this dividend is Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.90%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is 87.50%.

Palmer Square Capital BDC 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.