Palmer Square Capital BDC Inc. (NYSE:PSBD) Sees Significant Decline in Short Interest

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) was the recipient of a significant drop in short interest in the month of April. As of April 15th, there was short interest totalling 10,900 shares, a drop of 63.9% from the March 31st total of 30,200 shares. Based on an average daily volume of 37,100 shares, the short-interest ratio is presently 0.3 days. Approximately 0.1% of the shares of the stock are short sold.

Palmer Square Capital BDC Stock Up 0.7 %

NYSE PSBD traded up $0.09 during trading hours on Thursday, hitting $12.76. The company's stock had a trading volume of 4,270 shares, compared to its average volume of 33,816. Palmer Square Capital BDC has a twelve month low of $11.89 and a twelve month high of $16.85. The stock has a fifty day moving average of $13.94 and a 200 day moving average of $15.15. The firm has a market capitalization of $415.97 million, a P/E ratio of 6.64 and a beta of 0.60.

Palmer Square Capital BDC Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, April 10th. Investors of record on Friday, March 28th were given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 11.29%. The ex-dividend date of this dividend was Friday, March 28th. Palmer Square Capital BDC's dividend payout ratio is currently 97.30%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. dropped their price objective on shares of Palmer Square Capital BDC from $16.00 to $13.50 and set an "overweight" rating for the company in a research report on Thursday, April 24th. UBS Group dropped their target price on Palmer Square Capital BDC from $16.50 to $14.00 and set a "neutral" rating for the company in a research report on Thursday, April 17th.

Insiders Place Their Bets

In other Palmer Square Capital BDC news, President Matthew L. Bloomfield purchased 4,200 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was acquired at an average cost of $15.38 per share, with a total value of $64,596.00. Following the completion of the acquisition, the president now directly owns 32,478 shares of the company's stock, valued at $499,511.64. This represents a 14.85 % increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 0.96% of the company's stock.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several institutional investors and hedge funds have recently modified their holdings of the business. Cubist Systematic Strategies LLC grew its holdings in shares of Palmer Square Capital BDC by 995.9% during the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock worth $37,000 after buying an additional 2,211 shares in the last quarter. Wells Fargo & Company MN grew its position in shares of Palmer Square Capital BDC by 271.5% in the 4th quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock valued at $114,000 after acquiring an additional 5,482 shares during the period. Atwood & Palmer Inc. acquired a new position in shares of Palmer Square Capital BDC during the 1st quarter worth about $453,000. Marble Harbor Investment Counsel LLC raised its holdings in shares of Palmer Square Capital BDC by 24.3% in the 4th quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock valued at $486,000 after purchasing an additional 6,250 shares during the period. Finally, Citadel Advisors LLC lifted 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 purchasing an additional 10,457 shares during the last quarter. 6.52% of the stock is currently 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.