SLM Co. (NASDAQ:SLMBP) Sees Large Drop in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant decrease in short interest in January. As of January 15th, there was short interest totalling 5,300 shares, a decrease of 42.4% from the December 31st total of 9,200 shares. Based on an average trading volume of 11,500 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. increased its holdings in shares of SLM Co. (NASDAQ:SLMBP) by 3.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 118,093 shares of the company’s stock after buying an additional 3,850 shares during the period. SLM comprises approximately 2.3% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 13th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,739,000 as of its most recent SEC filing.

SLM Price Performance

NASDAQ:SLMBP traded up $0.26 during midday trading on Wednesday, hitting $75.15. The company’s stock had a trading volume of 1,810 shares, compared to its average volume of 6,162. SLM has a fifty-two week low of $69.90 and a fifty-two week high of $80.67. The firm’s 50 day moving average is $74.17 and its 200-day moving average is $75.00.

SLM Cuts Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be issued a $1.5951 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $6.38 annualized dividend and a yield of 8.49%.

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.