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

SLM Co. (NASDAQ:SLMBP) was the target of a significant growth in short interest in the month of November. As of November 15th, there was short interest totalling 6,600 shares, a growth of 94.1% from the October 31st total of 3,400 shares. Based on an average trading volume of 13,400 shares, the short-interest ratio is currently 0.5 days.

SLM Price Performance

SLM stock traded up $0.08 during trading on Friday, reaching $75.02. The company had a trading volume of 18,854 shares, compared to its average volume of 11,966. The firm’s 50-day simple moving average is $74.49 and its 200 day simple moving average is $75.70. SLM has a 52 week low of $66.00 and a 52 week high of $80.67.

SLM Cuts Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Investors of record on Thursday, December 5th will be paid a dividend of $1.7449 per share. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.98 dividend on an annualized basis and a dividend yield of 9.30%.

Institutional Investors Weigh In On SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. lifted its position in SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the period. SLM comprises 2.5% of Shikiar Asset Management Inc.’s portfolio, making the stock its 15th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 at the end of the most recent reporting period.

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.