Short Interest in SLM Co. (NASDAQ:SLMBP) Drops By 42.4%

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

SLM Stock Performance

SLMBP stock traded up $0.11 during trading hours on Thursday, hitting $73.30. The company’s stock had a trading volume of 1,927 shares, compared to its average volume of 5,163. SLM has a 12 month low of $69.01 and a 12 month high of $80.67. The stock has a 50 day moving average price of $74.21 and a two-hundred day moving average price of $75.16.

SLM Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 16th. Stockholders of record on Thursday, December 5th were paid a dividend of $1.7449 per share. The ex-dividend date of this dividend was Thursday, December 5th. This represents a $6.98 annualized dividend and a dividend yield of 9.52%.

Hedge Funds Weigh In On SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its stake in SLM Co. (NASDAQ:SLMBP) by 3.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 118,093 shares of the company’s stock after acquiring an additional 3,850 shares during the period. SLM makes up 2.3% of Shikiar Asset Management Inc.’s 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 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.