SLM Co. (NASDAQ:SLMBP) Short Interest Update

SLM Co. (NASDAQ:SLMBP) was the target of a large increase in short interest during the month of 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 currently 1.0 days.

Institutional Investors Weigh In On SLM

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

SLM Price Performance

Shares of SLM stock opened at $74.71 on Tuesday. SLM has a 12-month low of $72.41 and a 12-month high of $80.67. The company’s fifty day simple moving average is $74.80 and its two-hundred day simple moving average is $74.72.

SLM Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 17th. Shareholders of record on Wednesday, March 5th were issued a $1.5951 dividend. This represents a $6.38 dividend on an annualized basis and a yield of 8.54%. The ex-dividend date of this dividend was Wednesday, March 5th.

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.