Short Interest in SLM Co. (NASDAQ:SLMBP) Rises By 50.0%

SLM Co. (NASDAQ:SLMBP) was the target of a significant growth in short interest in September. As of September 15th, there was short interest totalling 6,900 shares, a growth of 50.0% from the August 31st total of 4,600 shares. Based on an average trading volume of 8,000 shares, the short-interest ratio is currently 0.9 days.

SLM Stock Performance

SLMBP traded down $0.35 on Friday, hitting $76.20. 7,199 shares of the company were exchanged, compared to its average volume of 11,106. SLM has a 12 month low of $60.00 and a 12 month high of $80.67. The stock’s fifty day moving average is $76.30 and its 200-day moving average is $76.09.

SLM Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Monday, September 16th. Investors of record on Thursday, September 5th were issued a dividend of $1.8467 per share. The ex-dividend date was Thursday, September 5th. This represents a $7.39 annualized dividend and a yield of 9.69%.

Institutional Trading of SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. raised its holdings in SLM Co. (NASDAQ:SLMBP) by 2.8% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the period. SLM comprises approximately 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. 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.