SLM Co. (NASDAQ:SLMBP) Short Interest Down 11.9% in February

SLM Co. (NASDAQ:SLMBP) was the target of a significant decline in short interest in the month of February. As of February 15th, there was short interest totalling 5,900 shares, a decline of 11.9% from the January 31st total of 6,700 shares. Based on an average daily volume of 10,600 shares, the short-interest ratio is currently 0.6 days.

Institutional Trading of SLM

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. boosted its position in shares of SLM Co. (NASDAQ:SLMBP) by 3.4% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 118,093 shares of the company’s stock after purchasing an additional 3,850 shares during the period. SLM comprises about 2.3% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 13th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,739,000 at the end of the most recent reporting period.

SLM Stock Performance

NASDAQ SLMBP traded down $0.18 on Thursday, reaching $74.37. The company’s stock had a trading volume of 571 shares, compared to its average volume of 5,232. SLM has a 52 week low of $72.21 and a 52 week high of $80.67. The business has a 50-day moving average price of $74.70 and a 200 day moving average price of $74.83.

SLM Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, March 17th. Investors of record on Wednesday, March 5th will be given a dividend of $1.5951 per share. The ex-dividend date is Wednesday, March 5th. This represents a $6.38 annualized dividend and a dividend yield of 8.58%.

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.