Short Interest in Palmer Square Capital BDC Inc. (NYSE:PSBD) Increases By 31.3%

Palmer Square Capital BDC Inc. (NYSE:PSBD) saw a large growth in short interest in the month of February. As of February 28th, there was short interest totalling 23,900 shares, a growth of 31.3% from the February 13th total of 18,200 shares. Currently, 0.2% of the shares of the company are short sold. Based on an average daily trading volume, of 22,900 shares, the days-to-cover ratio is presently 1.0 days.

Palmer Square Capital BDC Stock Performance

Shares of PSBD opened at $14.57 on Wednesday. The stock has a market capitalization of $474.99 million, a P/E ratio of 7.59 and a beta of 0.20. The company’s fifty day moving average is $15.46 and its two-hundred day moving average is $15.79. Palmer Square Capital BDC has a 1 year low of $14.23 and a 1 year high of $17.09.

Palmer Square Capital BDC Cuts Dividend

The business 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 dividend on an annualized basis and a dividend yield of 9.89%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 97.30%.

Insider Buying and Selling at Palmer Square Capital BDC

In other news, President Matthew L. Bloomfield acquired 4,000 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average cost of $15.48 per share, with a total value of $61,920.00. Following the purchase, the president now owns 41,478 shares of the company’s stock, valued at $642,079.44. This represents a 10.67 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 0.96% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Palmer Square Capital BDC

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. 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 shares of Palmer Square Capital BDC by 995.9% during the 4th quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company’s stock worth $37,000 after purchasing an additional 2,211 shares during the period. Citadel Advisors LLC grew its stake in shares of Palmer Square Capital BDC by 32.9% during the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company’s stock worth $641,000 after purchasing an additional 10,457 shares during the period. Bank of America Corp DE grew its stake in shares of Palmer Square Capital BDC by 21.0% during the 4th quarter. Bank of America Corp DE now owns 262,383 shares of the company’s stock worth $3,988,000 after purchasing an additional 45,519 shares during the period. Finally, 1248 Management LLC acquired a new position in shares of Palmer Square Capital BDC during the 4th quarter worth $34,064,000. 6.52% of the stock is 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.