SLM Co. (NASDAQ:SLMBP) Short Interest Update

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 presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. increased its holdings in SLM Co. (NASDAQ:SLMBP) by 2.8% in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the period. SLM accounts for 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent SEC filing.

SLM Trading Down 0.1 %

Shares of NASDAQ SLMBP traded down $0.06 during mid-day trading on Friday, reaching $74.38. 6,741 shares of the company’s stock were exchanged, compared to its average volume of 11,339. The firm has a 50-day moving average price of $74.76 and a two-hundred day moving average price 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. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.7449 per share. This represents a $6.98 annualized dividend and a yield of 9.38%. The ex-dividend date is 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.