Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 42.4%

SLM Co. (NASDAQ:SLMBP) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totalling 5,300 shares, a drop of 42.4% from the December 15th total of 9,200 shares. Based on an average daily trading volume, of 11,500 shares, the short-interest ratio is presently 0.5 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. raised its position in shares of SLM Co. (NASDAQ:SLMBP) by 3.4% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 118,093 shares of the company’s stock after purchasing an additional 3,850 shares during the quarter. SLM comprises 2.3% of Shikiar Asset Management Inc.’s portfolio, making the stock its 13th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,739,000 at the end of the most recent reporting period.

SLM Stock Performance

NASDAQ SLMBP traded up $0.11 during trading hours on Thursday, reaching $73.30. The company’s stock had a trading volume of 1,927 shares, compared to its average volume of 5,163. SLM has a 52 week low of $69.01 and a 52 week high of $80.67. The business has a 50-day simple moving average of $74.21 and a 200 day simple moving average of $75.16.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were issued a dividend of $1.7449 per share. This represents a $6.98 annualized dividend and a dividend yield of 9.52%. The ex-dividend date of this dividend was Thursday, December 5th.

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.