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

SLM Co. (NASDAQ:SLMBP) saw a significant growth in short interest in the month of September. As of September 30th, there was short interest totalling 15,800 shares, a growth of 129.0% from the September 15th total of 6,900 shares. Based on an average daily volume of 11,500 shares, the short-interest ratio is currently 1.4 days.

SLM Trading Up 0.0 %

Shares of NASDAQ SLMBP traded up $0.01 during trading on Friday, reaching $74.15. 17,622 shares of the stock were exchanged, compared to its average volume of 11,958. The business’s 50-day moving average price is $75.88 and its 200 day moving average price is $76.10. SLM has a twelve month low of $62.15 and a twelve month high of $80.67.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were given a $1.8467 dividend. The ex-dividend date of this dividend was Thursday, September 5th. This represents a $7.39 dividend on an annualized basis and a yield of 9.96%.

Institutional Trading of SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its stake in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to its most recent Form 13F 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 quarter. SLM makes up about 2.5% of Shikiar Asset Management Inc.’s investment portfolio, 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 filing with the Securities and Exchange Commission.

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.