Bank of New York Mellon Corp Raises Stock Position in Palmer Square Capital BDC Inc. (NYSE:PSBD)

Bank of New York Mellon Corp increased its holdings in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) by 120.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 77,878 shares of the company’s stock after purchasing an additional 42,533 shares during the period. Bank of New York Mellon Corp owned 0.24% of Palmer Square Capital BDC worth $1,184,000 as of its most recent filing with the Securities and Exchange Commission.

Separately, Hennion & Walsh Asset Management Inc. raised its stake in shares of Palmer Square Capital BDC by 73.0% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 83,997 shares of the company’s stock valued at $1,277,000 after purchasing an additional 35,437 shares in the last quarter. 6.52% of the stock is owned by hedge funds and other institutional investors.

Palmer Square Capital BDC Stock Performance

Shares of PSBD stock opened at $14.36 on Tuesday. The stock has a market capitalization of $468.31 million, a price-to-earnings ratio of 7.48 and a beta of 0.20. Palmer Square Capital BDC Inc. has a one year low of $13.53 and a one year high of $17.09. The company’s 50-day simple moving average is $15.40 and its 200-day simple moving average is $15.74.

Palmer Square Capital BDC Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Stockholders of record on Friday, March 28th will be given a $0.36 dividend. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a dividend yield of 10.03%. Palmer Square Capital BDC’s payout ratio is 97.30%.

Insider Activity

In related news, President Matthew L. Bloomfield bought 4,000 shares of the stock in a transaction dated Thursday, March 6th. The stock was bought at an average cost of $15.48 per share, with a total value of $61,920.00. Following the completion of the acquisition, the president now owns 41,478 shares of the company’s stock, valued at $642,079.44. This trade represents a 10.67 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 0.96% 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.