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

SLM Co. (NASDAQ:SLMBP) was the target of a significant increase in short interest during the month of September. As of September 15th, there was short interest totalling 6,900 shares, an increase of 50.0% from the August 31st total of 4,600 shares. Based on an average daily volume of 8,000 shares, the short-interest ratio is presently 0.9 days.

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 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the period. SLM makes up approximately 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 at the end of the most recent reporting period.

SLM Price Performance

SLMBP stock traded down $0.35 during mid-day trading on Friday, reaching $76.20. The company had a trading volume of 7,199 shares, compared to its average volume of 11,106. SLM has a 12 month low of $60.00 and a 12 month high of $80.67. The firm has a 50 day moving average of $76.30 and a 200 day moving average of $76.09.

SLM Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, September 16th. Stockholders of record on Thursday, September 5th were given a $1.8467 dividend. The ex-dividend date was Thursday, September 5th. This represents a $7.39 annualized dividend and a dividend yield of 9.69%.

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.