Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) saw unusually-strong trading volume on Friday following a dividend announcement from the company. Approximately 20,702 shares were traded during trading, a decline of 4% from the previous session's volume of 21,469 shares.The stock last traded at $15.35 and had previously closed at $15.42.The newly announced dividend which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 28th will be issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 9.35%. The ex-dividend date of this dividend is Friday, March 28th. Palmer Square Capital BDC's payout ratio is 87.50%.
The stock has a market cap of $502.76 million and a P/E ratio of 8.02. The firm's fifty day moving average price is $15.59 and its two-hundred day moving average price is $15.91.
Institutional investors have recently added to or reduced their stakes in the business. Confluence Investment Management LLC boosted 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 valued at $1,697,000 after acquiring an additional 18,842 shares during the last quarter. FMR LLC lifted its position in Palmer Square Capital BDC by 7.3% during the third quarter. FMR LLC now owns 383,125 shares of the company's stock valued at $6,245,000 after purchasing an additional 25,951 shares during the last quarter. Hennion & Walsh Asset Management Inc. grew its stake in 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 worth $1,277,000 after buying an additional 35,437 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Palmer Square Capital BDC by 120.3% in the 4th quarter. Bank of New York Mellon Corp now owns 77,878 shares of the company's stock worth $1,184,000 after buying an additional 42,533 shares during the last quarter. Finally, Marble Harbor Investment Counsel LLC increased 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 worth $486,000 after buying an additional 6,250 shares during the last quarter. 6.52% of the stock is currently owned by institutional investors.
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.
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.
Before you consider Palmer Square Capital BDC, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Palmer Square Capital BDC wasn't on the list.
While Palmer Square Capital BDC currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.