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

SLM Co. (NASDAQ:SLMBP) was the target of a significant drop in short interest in the month of May. As of May 15th, there was short interest totalling 6,500 shares, a drop of 21.7% from the April 30th total of 8,300 shares. Based on an average daily trading volume, of 5,400 shares, the short-interest ratio is currently 1.2 days.

SLM Stock Performance

Shares of SLM stock opened at $79.61 on Tuesday. The business has a 50-day moving average of $73.57 and a 200 day moving average of $74.27. SLM has a 12 month low of $65.50 and a 12 month high of $79.69.

SLM Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Thursday, June 5th will be paid a $1.5815 dividend. This represents a $6.33 annualized dividend and a dividend yield of 7.95%. The ex-dividend date is Thursday, June 5th.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. increased its stake in shares of SLM Co. (NASDAQ:SLMBP) by 3.3% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 121,983 shares of the company’s stock after purchasing an additional 3,890 shares during the quarter. SLM accounts for 2.7% of Shikiar Asset Management Inc.’s holdings, making the stock its 10th largest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,990,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

About SLM

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.