SLM (NASDAQ:SLMBP) Shares Down 0.1% – Here’s What Happened

Shares of SLM Co. (NASDAQ:SLMBP) dropped 0.1% during mid-day trading on Friday . The company traded as low as $74.03 and last traded at $74.38. Approximately 6,741 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 11,339 shares. The stock had previously closed at $74.44.

SLM Trading Down 0.1 %

The business’s fifty day simple moving average is $74.76 and its 200 day simple moving average is $75.86.

SLM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a $1.7449 dividend. The ex-dividend date of this dividend is Thursday, December 5th. This represents a $6.98 annualized dividend and a dividend yield of 9.38%.

Hedge Funds Weigh In On SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. boosted its holdings in SLM Co. (NASDAQ:SLMBP) by 2.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,518 shares of the company’s stock after acquiring an additional 3,390 shares during the period. SLM accounts for 2.5% of Shikiar Asset Management Inc.’s holdings, making the stock its 15th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 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.