SLM Co. (NASDAQ:SLMBP) Sees Significant Decrease in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a large drop in short interest during the month of August. As of August 31st, there was short interest totalling 4,600 shares, a drop of 22.0% from the August 15th total of 5,900 shares. Based on an average daily volume of 9,100 shares, the days-to-cover ratio is currently 0.5 days.

SLM Trading Up 1.1 %

Shares of NASDAQ SLMBP traded up $0.81 during midday trading on Friday, reaching $76.22. The company had a trading volume of 8,001 shares, compared to its average volume of 11,054. SLM has a 1 year low of $60.00 and a 1 year high of $80.67. The business’s 50-day simple moving average is $76.32 and its 200 day simple moving average is $75.82.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Investors of record on Thursday, September 5th will be given a $1.8467 dividend. This represents a $7.39 annualized dividend and a dividend yield of 9.69%. The ex-dividend date is Thursday, September 5th.

Institutional Trading of SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its position in SLM Co. (NASDAQ:SLMBP) by 2.8% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the quarter. SLM comprises 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 quarter.

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.