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

Bank of New York Mellon Corp increased its stake in Palmer Square Capital BDC Inc. (NYSE:PSBD - Free Report) by 120.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 77,878 shares of the company's stock after acquiring an additional 42,533 shares during the quarter. Bank of New York Mellon Corp owned about 0.24% of Palmer Square Capital BDC worth $1,184,000 at the end of the most recent reporting period.

Separately, FMR LLC boosted 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 acquiring an additional 25,951 shares during the last quarter. Institutional investors and hedge funds own 6.52% of the company's stock.

Insider Buying and Selling at Palmer Square Capital BDC

In related news, President Matthew L. Bloomfield acquired 4,200 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were purchased at an average price of $15.38 per share, for a total transaction of $64,596.00. Following the completion of the acquisition, the president now owns 32,478 shares of the company's stock, valued at approximately $499,511.64. This trade represents a 14.85 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.96% of the company's stock.

Palmer Square Capital BDC Stock Down 2.4 %

Palmer Square Capital BDC stock traded down $0.35 during trading hours on Friday, reaching $14.05. 44,996 shares of the company's stock were exchanged, compared to its average volume of 26,960. The firm has a market capitalization of $458.20 million, a PE ratio of 7.32 and a beta of 0.20. The firm's 50 day simple moving average is $15.33 and its 200 day simple moving average is $15.71. Palmer Square Capital BDC Inc. has a twelve month low of $13.53 and a twelve month high of $17.02.

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Palmer Square Capital BDC Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, April 10th. Shareholders of record on Friday, March 28th will be issued a $0.36 dividend. The ex-dividend date of this dividend is Friday, March 28th. This represents a $1.44 dividend on an annualized basis and a yield of 10.25%. Palmer Square Capital BDC's payout ratio is currently 97.30%.

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.