SLM (NASDAQ:SLMBP) Trading Up 0.7%

SLM Co. (NASDAQ:SLMBP)’s stock price shot up 0.7% during trading on Thursday . The stock traded as high as $76.57 and last traded at $75.63. 9,619 shares changed hands during mid-day trading, a decline of 14% from the average session volume of 11,177 shares. The stock had previously closed at $75.09.

SLM Stock Down 1.5 %

The company’s fifty day moving average price is $76.42 and its two-hundred day moving average price is $75.72.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 16th. Stockholders of record on Thursday, September 5th will be issued a dividend of $1.8467 per share. This represents a $7.39 annualized dividend and a dividend yield of 9.91%. The ex-dividend date is Thursday, September 5th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. raised its holdings in SLM Co. (NASDAQ:SLMBP) by 2.8% in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the quarter. SLM makes up about 2.5% of Shikiar Asset Management Inc.’s investment portfolio, 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 quarter.

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.