SLM Co. (NASDAQ:SLMBP) Sees Large Increase in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a large increase in short interest during the month of November. As of November 15th, there was short interest totalling 6,600 shares, an increase of 94.1% from the October 31st total of 3,400 shares. Based on an average daily trading volume, of 13,400 shares, the short-interest ratio is currently 0.5 days.

SLM Stock Performance

SLM stock traded up $0.01 during midday trading on Thursday, hitting $74.94. 7,712 shares of the stock were exchanged, compared to its average volume of 11,937. The company has a 50 day moving average price of $74.55 and a two-hundred day moving average price of $75.73. SLM has a 1 year low of $66.00 and a 1 year high of $80.67.

SLM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a $1.7449 dividend. This represents a $6.98 dividend on an annualized basis and a yield of 9.31%. The ex-dividend date is Thursday, December 5th.

Institutional Investors Weigh In On SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. grew its position in SLM Co. (NASDAQ:SLMBP) by 2.8% during the 2nd quarter, according to its most recent 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 period. SLM comprises approximately 2.5% of Shikiar Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent filing with the SEC.

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.