SLM Co. (NASDAQ:SLMBP) Sees Significant Decrease in Short Interest

SLM Co. (NASDAQ:SLMBP) was the recipient of a large decline in short interest during the month of July. As of July 15th, there was short interest totaling 5,064 shares, a decline of 57.7% from the June 30th total of 11,964 shares. Based on an average trading volume of 3,503 shares, the days-to-cover ratio is currently 1.4 days.

SLM Price Performance

Shares of SLMBP stock traded down $0.24 on Tuesday, hitting $73.95. 1,637 shares of the company’s stock traded hands, compared to its average volume of 3,514. The company’s fifty day simple moving average is $74.64 and its 200 day simple moving average is $74.61. SLM has a one year low of $70.58 and a one year high of $83.05.

SLM Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be given a dividend of $1.4393 per share. This represents a $5.76 annualized dividend and a yield of 7.8%. The ex-dividend date is Friday, September 4th. This is a positive change from SLM’s previous quarterly dividend of $1.43.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.