SLM Co. (NASDAQ:SLMBP) Short Interest Up 31.8% in June

SLM Co. (NASDAQ:SLMBP) was the target of a large increase in short interest in June. As of June 30th, there was short interest totalling 2,900 shares, an increase of 31.8% from the June 15th total of 2,200 shares. Based on an average daily volume of 8,100 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Inflows and Outflows

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. boosted its holdings in SLM Co. (NASDAQ:SLMBP) by 298.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 104,943 shares of the company’s stock after purchasing an additional 78,600 shares during the quarter. SLM makes up about 2.2% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 16th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $6,942,000 as of its most recent SEC filing.

SLM Stock Performance

Shares of SLMBP stock traded up $0.29 during trading hours on Friday, hitting $77.00. 2,445 shares of the company were exchanged, compared to its average volume of 12,021. SLM has a one year low of $55.65 and a one year high of $80.67. The business’s 50-day simple moving average is $76.48 and its two-hundred day simple moving average is $73.95.

SLM Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, June 17th. Shareholders of record on Thursday, June 6th were issued a dividend of $1.9038 per share. This represents a $7.62 dividend on an annualized basis and a yield of 9.89%. The ex-dividend date was Thursday, June 6th. This is an increase from SLM’s previous quarterly dividend of $1.86.

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.