Short Interest in SLM Co. (NASDAQ:SLMBP) Rises By 50.0%

by · The Markets Daily

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

Hedge Funds Weigh In On SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. increased its stake in shares of SLM Co. (NASDAQ:SLMBP – Free Report) by 2.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the quarter. SLM comprises approximately 2.5% of Shikiar Asset Management Inc.’s investment portfolio, 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 Price Performance

Shares of SLM stock traded down $0.35 on Friday, hitting $76.20. The stock had a trading volume of 7,199 shares, compared to its average volume of 11,106. SLM has a twelve month low of $60.00 and a twelve month high of $80.67. The business’s 50 day moving average is $76.30 and its two-hundred day moving average is $76.09.

SLM Cuts Dividend

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

SLM Company Profile

(Get Free Report)

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.

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