SLM Co. (NASDAQ:SLMBP) Short Interest Up 129.0% in September

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant increase in short interest in the month of September. As of September 30th, there was short interest totalling 15,800 shares, an increase of 129.0% from the September 15th total of 6,900 shares. Based on an average daily volume of 11,500 shares, the days-to-cover ratio is presently 1.4 days.

Hedge Funds Weigh In On SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its holdings in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 122,518 shares of the company’s stock after acquiring an additional 3,390 shares during the quarter. SLM comprises approximately 2.5% of Shikiar Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent SEC filing.

SLM Stock Up 0.0 %

Shares of NASDAQ SLMBP traded up $0.01 during trading on Friday, hitting $74.15. 17,622 shares of the company traded hands, compared to its average volume of 11,958. The company has a 50-day moving average price of $75.88 and a 200-day moving average price of $76.10. SLM has a 1 year low of $62.15 and a 1 year high of $80.67.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, September 16th. Shareholders of record on Thursday, September 5th were paid a dividend of $1.8467 per share. The ex-dividend date was Thursday, September 5th. This represents a $7.39 annualized dividend and a yield of 9.96%.

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.