Insider Buying: Palmer Square Capital BDC Inc. (NYSE:PSBD) President Buys $61,920.00 in Stock

Palmer Square Capital BDC Inc. (NYSE:PSBD) President Matthew L. Bloomfield bought 4,000 shares of Palmer Square Capital BDC stock in a transaction that occurred on Thursday, March 6th. The shares were acquired at an average cost of $15.48 per share, with a total value of $61,920.00. Following the acquisition, the president now owns 41,478 shares of the company’s stock, valued at $642,079.44. The trade was a 10.67 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link.

Palmer Square Capital BDC Price Performance

Shares of Palmer Square Capital BDC stock opened at $15.13 on Friday. The firm has a fifty day moving average price of $15.54 and a 200 day moving average price of $15.87. Palmer Square Capital BDC Inc. has a 1 year low of $14.99 and a 1 year high of $17.09. The stock has a market cap of $493.45 million, a PE ratio of 7.88 and a beta of 0.20.

Palmer Square Capital BDC Cuts Dividend

The firm also recently announced 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 dividend yield of 9.52%. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently 97.30%.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in PSBD. 1248 Management LLC purchased a new position in Palmer Square Capital BDC in the fourth quarter valued at $34,064,000. Mariner LLC increased its holdings in Palmer Square Capital BDC by 97.7% in the fourth quarter. Mariner LLC now owns 2,275,470 shares of the company’s stock valued at $34,587,000 after buying an additional 1,124,766 shares in the last quarter. Pandi LLC purchased a new position in Palmer Square Capital BDC in the fourth quarter valued at $13,860,000. Bienville Capital Management LLC increased its holdings in Palmer Square Capital BDC by 61.9% in the fourth quarter. Bienville Capital Management LLC now owns 676,406 shares of the company’s stock valued at $10,606,000 after buying an additional 258,643 shares in the last quarter. Finally, Bank of America Corp DE increased its holdings in Palmer Square Capital BDC by 21.0% in the fourth quarter. Bank of America Corp DE now owns 262,383 shares of the company’s stock valued at $3,988,000 after buying an additional 45,519 shares in the last quarter. Hedge funds and other 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.