SLM (NASDAQ:SLMBP) Trading Up 0.7%

SLM Co. (NASDAQ:SLMBP) was up 0.7% on Thursday . The stock traded as high as $76.57 and last traded at $75.63. Approximately 9,619 shares traded hands during mid-day trading, a decline of 14% from the average daily volume of 11,177 shares. The stock had previously closed at $75.09.

SLM Stock Performance

The business has a 50-day moving average of $76.42 and a two-hundred day moving average of $75.72.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $1.8467 per share. This represents a $7.39 annualized dividend and a dividend yield of 9.91%. The ex-dividend date is Thursday, September 5th.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its stake in SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 holdings, making the stock its 15th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent SEC filing.

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.