Short Interest in SLM Co. (NASDAQ:SLMBP) Increases By 23.7%

SLM Co. (NASDAQ:SLMBP) was the target of a significant increase in short interest in February. As of February 28th, there was short interest totalling 7,300 shares, an increase of 23.7% from the February 13th total of 5,900 shares. Based on an average trading volume of 7,000 shares, the short-interest ratio is presently 1.0 days.

Institutional Trading of SLM

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

SLM Price Performance

Shares of NASDAQ:SLMBP opened at $75.02 on Wednesday. The company’s 50 day moving average is $74.82 and its two-hundred day moving average is $74.71. SLM has a 52 week low of $72.50 and a 52 week high of $80.67.

SLM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were paid a $1.5951 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $6.38 annualized dividend and a yield of 8.51%.

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.