Palmer Square Capital BDC (NYSE:PSBD) Shares Gap Down - Here's What Happened

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report)'s stock price gapped down prior to trading on Monday . The stock had previously closed at $16.00, but opened at $15.39. Palmer Square Capital BDC shares last traded at $15.51, with a volume of 1,805 shares traded.

Palmer Square Capital BDC Stock Down 0.6 %

The company has a market cap of $503.09 million and a P/E ratio of 8.03. The company has a fifty day moving average of $15.89 and a 200 day moving average of $16.15.

Palmer Square Capital BDC Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, January 13th. Investors of record on Friday, December 27th will be given a dividend of $0.42 per share. The ex-dividend date is Friday, December 27th. This represents a $1.68 annualized dividend and a yield of 10.90%. Palmer Square Capital BDC's dividend payout ratio (DPR) is presently 87.50%.

Institutional Investors Weigh In On Palmer Square Capital BDC

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Marble Harbor Investment Counsel LLC bought a new stake in Palmer Square Capital BDC during the 2nd quarter valued at approximately $315,000. Renaissance Technologies LLC bought a new position in shares of Palmer Square Capital BDC during the second quarter worth $173,000. Hennion & Walsh Asset Management Inc. purchased a new position in Palmer Square Capital BDC during the third quarter valued at $792,000. Confluence Investment Management LLC increased its holdings in Palmer Square Capital BDC by 22.1% in 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. Finally, FMR LLC lifted its stake in Palmer Square Capital BDC by 7.3% in the 3rd quarter. FMR LLC now owns 383,125 shares of the company's stock worth $6,245,000 after purchasing an additional 25,951 shares in the last quarter. Institutional investors own 6.52% of the company's stock.

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.