Palmer Square Capital BDC (NYSE:PSBD) Sets New 12-Month Low - Time to Sell?

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report)'s share price reached a new 52-week low on Wednesday . The company traded as low as $15.20 and last traded at $15.20, with a volume of 21110 shares trading hands. The stock had previously closed at $15.41.

Palmer Square Capital BDC Trading Down 1.4 %

The stock has a fifty day simple moving average of $15.85 and a 200-day simple moving average of $16.13. The company has a market capitalization of $496.23 million and a PE ratio of 7.92.

Palmer Square Capital BDC Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be paid a dividend of $0.42 per share. This represents a $1.68 annualized dividend and a yield of 11.05%. The ex-dividend date of this dividend is Friday, December 27th. Palmer Square Capital BDC's payout ratio is 87.50%.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Renaissance Technologies LLC purchased a new stake in Palmer Square Capital BDC in the second quarter valued at $173,000. Marble Harbor Investment Counsel LLC acquired a new stake in shares of Palmer Square Capital BDC in the 2nd quarter valued at about $315,000. Hennion & Walsh Asset Management Inc. acquired a new stake in shares of Palmer Square Capital BDC in the 3rd quarter valued at about $792,000. Confluence Investment Management LLC grew its stake in 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 worth $1,697,000 after buying an additional 18,842 shares during the last quarter. Finally, FMR LLC increased 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 worth $6,245,000 after buying an additional 25,951 shares during the period. Institutional investors and hedge funds own 6.52% 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.