220,334 Shares in Palmer Square Capital BDC Inc. $PSBD Purchased by Closed End Fund Advisors Inc.

Closed End Fund Advisors Inc. acquired a new position in shares of Palmer Square Capital BDC Inc. (NYSE:PSBD) in the fourth quarter, HoldingsChannel.com reports. The institutional investor acquired 220,334 shares of the company’s stock, valued at approximately $2,686,000. Palmer Square Capital BDC makes up approximately 1.6% of Closed End Fund Advisors Inc.’s holdings, making the stock its 17th largest holding.

Several other large investors have also recently bought and sold shares of the stock. Bank of America Corp DE boosted its position in Palmer Square Capital BDC by 22.1% during the third quarter. Bank of America Corp DE now owns 367,035 shares of the company’s stock valued at $4,504,000 after purchasing an additional 66,460 shares during the last quarter. Sunesis Advisors LLC acquired a new position in Palmer Square Capital BDC during the third quarter valued at approximately $3,668,000. Millennium Management LLC boosted its position in Palmer Square Capital BDC by 2.0% during the third quarter. Millennium Management LLC now owns 134,249 shares of the company’s stock valued at $1,647,000 after purchasing an additional 2,638 shares during the last quarter. Two Sigma Investments LP boosted its position in Palmer Square Capital BDC by 142.9% during the third quarter. Two Sigma Investments LP now owns 131,545 shares of the company’s stock valued at $1,614,000 after purchasing an additional 77,393 shares during the last quarter. Finally, Opal Wealth Advisors LLC acquired a new position in Palmer Square Capital BDC during the fourth quarter valued at approximately $931,000. 6.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently commented on PSBD shares. Wall Street Zen cut Palmer Square Capital BDC from a “hold” rating to a “sell” rating in a research report on Saturday, May 9th. JPMorgan Chase & Co. reduced their price target on Palmer Square Capital BDC from $11.50 to $10.00 and set a “neutral” rating for the company in a research report on Friday, March 13th. Zacks Research cut Palmer Square Capital BDC from a “hold” rating to a “strong sell” rating in a research report on Friday, May 22nd. UBS Group reduced their price target on Palmer Square Capital BDC from $11.50 to $11.00 and set a “neutral” rating for the company in a research report on Monday, April 20th. Finally, Royal Bank Of Canada reduced their price target on Palmer Square Capital BDC from $12.00 to $11.00 and set a “sector perform” rating for the company in a research report on Wednesday, May 27th. Three analysts have rated the stock with a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Reduce” and a consensus price target of $10.67.

Palmer Square Capital BDC Stock Down 0.3%

PSBD opened at $10.77 on Friday. Palmer Square Capital BDC Inc. has a 12-month low of $9.34 and a 12-month high of $14.98. The stock has a market cap of $335.10 million, a price-to-earnings ratio of -10.35 and a beta of 0.83. The business has a 50 day moving average of $10.60 and a 200-day moving average of $11.27.

Palmer Square Capital BDC Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, July 13th. Stockholders of record on Friday, June 26th will be given a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 13.4%. The ex-dividend date of this dividend is Friday, June 26th. Palmer Square Capital BDC’s dividend payout ratio (DPR) is presently -138.46%.

About Palmer Square Capital BDC

Palmer Square Capital BDC Inc (NYSE: PSBD) is a closed-end, externally managed business development company that provides customized financing solutions to middle-market companies in the United States. The firm offers a broad range of debt and equity products—including first-lien and second-lien senior secured loans, unitranche financings, mezzanine debt and equity co-investments—to support corporate acquisitions, refinancings, growth initiatives and balance sheet restructurings.

PSBD primarily targets established privately owned and sponsored businesses across diverse industries such as healthcare, business services, industrials and consumer products.