Short Interest in SLM Co. (NASDAQ:SLMBP) Increases By 23.7%

SLM Co. (NASDAQ:SLMBP) saw a large increase in short interest during the month of February. As of February 28th, there was short interest totalling 7,300 shares, an increase of 23.7% from the February 13th total of 5,900 shares. Based on an average daily trading volume, of 7,000 shares, the days-to-cover ratio is presently 1.0 days.

SLM Stock Performance

Shares of NASDAQ:SLMBP opened at $75.14 on Thursday. SLM has a 12-month low of $72.60 and a 12-month high of $80.67. The business has a 50 day moving average of $74.85 and a 200-day moving average of $74.71.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Investors of record on Wednesday, March 5th were paid a $1.5951 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $6.38 annualized dividend and a yield of 8.49%.

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 3.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 118,093 shares of the company’s stock after buying an additional 3,850 shares during the period. SLM accounts for 2.3% of Shikiar Asset Management Inc.’s holdings, making the stock its 13th largest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,739,000 as of its most recent SEC filing.

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.