Short Interest in SLM Co. (NASDAQ:SLMBP) Declines By 37.1%

SLM Co. (NASDAQ:SLMBP) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 2,200 shares, a decline of 37.1% from the August 15th total of 3,500 shares. Based on an average daily volume of 7,000 shares, the short-interest ratio is presently 0.3 days. Based on an average daily volume of 7,000 shares, the short-interest ratio is presently 0.3 days.

Institutional Trading of SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its stake in SLM Co. (NASDAQ:SLMBP) by 3.3% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 121,983 shares of the company’s stock after acquiring an additional 3,890 shares during the quarter. SLM makes up approximately 2.7% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 10th largest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $8,990,000 as of its most recent SEC filing.

SLM Stock Up 0.4%

Shares of NASDAQ:SLMBP traded up $0.30 during mid-day trading on Monday, reaching $76.54. 1,343 shares of the stock were exchanged, compared to its average volume of 6,287. The stock’s 50 day simple moving average is $75.76 and its 200-day simple moving average is $74.98. SLM has a one year low of $65.50 and a one year high of $83.15.

SLM Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, September 15th. Stockholders of record on Thursday, September 4th will be paid a dividend of $1.5853 per share. This represents a $6.34 annualized dividend and a dividend yield of 8.3%. The ex-dividend date of this dividend is Thursday, September 4th.

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.