SLM Co. (NASDAQ:SLMBP) Short Interest Update

SLM Co. (NASDAQ:SLMBP) was the target of a large 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 daily trading volume, of 13,400 shares, the short-interest ratio is presently 0.5 days.

SLM Stock Performance

Shares of NASDAQ:SLMBP traded up $0.01 during trading on Thursday, reaching $74.94. 7,712 shares of the company traded hands, compared to its average volume of 11,937. The company’s 50 day moving average is $74.55 and its two-hundred day moving average is $75.73. SLM has a 52 week low of $66.00 and a 52 week high of $80.67.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be given a $1.7449 dividend. The ex-dividend date is Thursday, December 5th. This represents a $6.98 annualized dividend and a yield of 9.31%.

Institutional Inflows and Outflows

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

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.