Palmer Square Capital BDC Inc. (NYSE:PSBD) Short Interest Down 12.5% in February

Palmer Square Capital BDC Inc. (NYSE:PSBD - Get Free Report) saw a large drop in short interest in February. As of February 15th, there was short interest totalling 18,200 shares, a drop of 12.5% from the January 31st total of 20,800 shares. Based on an average daily trading volume, of 21,000 shares, the days-to-cover ratio is currently 0.9 days. Approximately 0.1% of the shares of the company are short sold.

Insider Buying and Selling

In other news, President Matthew L. Bloomfield purchased 4,200 shares of the stock in a transaction on Tuesday, March 4th. The shares were acquired at an average price of $15.38 per share, with a total value of $64,596.00. Following the completion of the acquisition, the president now directly owns 32,478 shares of the company's stock, valued at $499,511.64. This trade represents a 14.85 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 0.96% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Palmer Square Capital BDC

Several hedge funds have recently bought and sold shares of the business. Cubist Systematic Strategies LLC raised its holdings 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 in the last quarter. Wells Fargo & Company MN boosted 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 valued at $114,000 after acquiring an additional 5,482 shares in the last quarter. Marble Harbor Investment Counsel LLC increased its holdings 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 acquiring an additional 6,250 shares in the last quarter. Citadel Advisors LLC raised its position in shares of Palmer Square Capital BDC by 32.9% in the 4th quarter. Citadel Advisors LLC now owns 42,203 shares of the company's stock valued at $641,000 after purchasing an additional 10,457 shares during the last quarter. Finally, Franklin Resources Inc. boosted its stake in Palmer Square Capital BDC by 72.0% in the 4th quarter. Franklin Resources Inc. now owns 57,866 shares of the company's stock worth $880,000 after purchasing an additional 24,232 shares in the last quarter. Institutional investors own 6.52% of the company's stock.

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Palmer Square Capital BDC Stock Performance

NYSE:PSBD traded down $0.02 during trading hours on Monday, reaching $15.08. The stock had a trading volume of 34,190 shares, compared to its average volume of 26,527. Palmer Square Capital BDC has a 52 week low of $14.99 and a 52 week high of $17.09. The company has a 50 day moving average price of $15.54 and a two-hundred day moving average price of $15.86. The stock has a market capitalization of $491.79 million, a PE ratio of 7.85 and a beta of 0.20.

Palmer Square Capital BDC Cuts Dividend

The company 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 of this dividend 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 97.30%.

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.