Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 33.3%

SLM Co. (NASDAQ:SLMBP) was the target of a large decrease in short interest in October. As of October 31st, there was short interest totalling 3,400 shares, a decrease of 33.3% from the October 15th total of 5,100 shares. Based on an average daily volume of 13,000 shares, the short-interest ratio is currently 0.3 days.

SLM Stock Down 0.1 %

NASDAQ SLMBP traded down $0.06 during trading hours on Friday, hitting $74.38. The company had a trading volume of 6,741 shares, compared to its average volume of 11,339. The firm has a 50 day simple moving average of $74.76 and a 200 day simple moving average of $75.84. SLM has a 52 week low of $65.42 and a 52 week high of $80.67.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $1.7449 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.98 annualized dividend and a yield of 9.38%.

Institutional Trading of SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. grew its holdings in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 122,518 shares of the company’s stock after acquiring an additional 3,390 shares during the quarter. SLM comprises 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 as of its most recent SEC filing.

SLM Company Profile

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.