SLM Co. (NASDAQ:SLMBP) Short Interest Update

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. raised its position in SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to its most recent disclosure with the SEC. The firm owned 122,518 shares of the company’s stock after acquiring an additional 3,390 shares during the period. SLM makes up about 2.5% of Shikiar Asset Management Inc.’s holdings, 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 reporting period.

SLM Trading Down 0.1 %

SLMBP stock traded down $0.06 during mid-day trading on Friday, reaching $74.38. The company’s stock had a trading volume of 6,741 shares, compared to its average volume of 11,339. SLM has a 12 month low of $65.42 and a 12 month high of $80.67. The business’s 50 day moving average price is $74.76 and its 200 day moving average price is $75.84.

SLM Cuts Dividend

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

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.