SLM Co. (NASDAQ:SLMBP) Short Interest Down 67.7% in October

SLM Co. (NASDAQ:SLMBP) was the target of a large decline in short interest in October. As of October 15th, there was short interest totalling 5,100 shares, a decline of 67.7% from the September 30th total of 15,800 shares. Based on an average daily trading volume, of 12,300 shares, the days-to-cover ratio is currently 0.4 days.

SLM Price Performance

SLMBP stock traded down $0.19 during trading on Friday, hitting $73.60. The company had a trading volume of 3,731 shares, compared to its average volume of 11,703. The company has a fifty day moving average price of $75.39 and a two-hundred day moving average price of $76.01. SLM has a fifty-two week low of $64.00 and a fifty-two week high of $80.67.

SLM Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a $1.7449 dividend. This represents a $6.98 annualized dividend and a yield of 9.48%. The ex-dividend date is Thursday, December 5th.

Institutional Trading of SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. grew its holdings in SLM Co. (NASDAQ:SLMBP) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the quarter. SLM comprises about 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th largest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 at the end of the most recent quarter.

About SLM

SLM Corporation, through its subsidiaries, originates and services private education loans to students and their families to finance the cost of their education in the United States. It is also involved in the provision of retail deposit accounts, including certificates of deposit, money market accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.