Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 33.3%

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant decline in short interest during the month of October. As of October 31st, there was short interest totalling 3,400 shares, a decline of 33.3% from the October 15th total of 5,100 shares. Based on an average trading volume of 13,000 shares, the short-interest ratio is presently 0.3 days.

Hedge Funds Weigh In On SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. boosted its stake in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% during the 2nd quarter, according to its most recent Form 13F filing 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 quarter. SLM accounts for approximately 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 Trading Down 0.1 %

SLMBP traded down $0.06 during trading on Friday, hitting $74.38. 6,741 shares of the stock were exchanged, compared to its average volume of 11,339. SLM has a 1-year low of $65.42 and a 1-year high of $80.67. The stock has a fifty day moving average price of $74.76 and a two-hundred day moving average price of $75.86.

SLM Cuts Dividend

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

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.