Insider Buying: Palmer Square Capital BDC Inc. (NYSE:PSBD) President Purchases 4,000 Shares of Stock

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) President Matthew L. Bloomfield purchased 4,000 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was bought at an average price of $15.48 per share, with a total value of $61,920.00. Following the transaction, 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through this link.

Palmer Square Capital BDC Stock Performance

PSBD stock traded down $0.02 during midday trading on Monday, reaching $15.08. 34,190 shares of the company traded hands, compared to its average volume of 26,527. The firm has a market capitalization of $491.79 million, a price-to-earnings ratio of 7.85 and a beta of 0.20. Palmer Square Capital BDC Inc. has a 52-week low of $14.99 and a 52-week high of $17.09. The business has a 50 day moving average of $15.54 and a 200-day moving average of $15.86.

Palmer Square Capital BDC Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, April 10th. Investors of record on Friday, March 28th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, March 28th. This represents a $1.44 annualized dividend and a yield of 9.55%. Palmer Square Capital BDC's payout ratio is presently 97.30%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of PSBD. Cubist Systematic Strategies LLC raised its stake in shares of Palmer Square Capital BDC by 995.9% in the fourth quarter. Cubist Systematic Strategies LLC now owns 2,433 shares of the company's stock valued at $37,000 after acquiring an additional 2,211 shares during the period. Wells Fargo & Company MN lifted its stake in Palmer Square Capital BDC by 271.5% in the fourth quarter. Wells Fargo & Company MN now owns 7,501 shares of the company's stock worth $114,000 after purchasing an additional 5,482 shares during the last quarter. Marble Harbor Investment Counsel LLC boosted its position in shares of Palmer Square Capital BDC by 24.3% during the fourth quarter. Marble Harbor Investment Counsel LLC now owns 31,950 shares of the company's stock valued at $486,000 after buying an additional 6,250 shares during the period. Citadel Advisors LLC grew its stake in shares of Palmer Square Capital BDC by 32.9% during the fourth quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after buying an additional 10,457 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of Palmer Square Capital BDC by 72.0% in the fourth quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock worth $880,000 after buying an additional 24,232 shares during the period. 6.52% of the stock is owned by hedge funds and other institutional investors.

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About Palmer Square Capital BDC

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.