SLM (NASDAQ:SLMBP) Trading Down 0.1% – What’s Next?

SLM Co. (NASDAQ:SLMBP)’s stock price fell 0.1% during trading on Friday . The stock traded as low as $74.03 and last traded at $74.38. 6,741 shares traded hands during trading, a decline of 41% from the average session volume of 11,339 shares. The stock had previously closed at $74.44.

SLM Stock Performance

The stock’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 declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be paid a $1.7449 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.98 dividend on an annualized basis and a yield of 9.38%.

Institutional Investors Weigh In On SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. increased its position in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the period. SLM accounts for approximately 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 at the end of the most recent reporting period.

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.