SLM Co. (NASDAQ:SLMBP) Short Interest Down 22.0% in August

SLM Co. (NASDAQ:SLMBP) saw a significant decrease in short interest during the month of August. As of August 31st, there was short interest totalling 4,600 shares, a decrease of 22.0% from the August 15th total of 5,900 shares. Based on an average trading volume of 9,100 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. increased its stake in SLM Co. (NASDAQ:SLMBP) by 2.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the quarter. SLM makes up approximately 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest position. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent filing with the SEC.

SLM Stock Up 1.1 %

NASDAQ SLMBP opened at $76.22 on Monday. The company has a 50-day moving average price of $76.32 and a 200-day moving average price of $75.84. SLM has a 52 week low of $60.00 and a 52 week high of $80.67.

SLM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, September 16th. Shareholders of record on Thursday, September 5th will be issued a dividend of $1.8467 per share. The ex-dividend date is Thursday, September 5th. This represents a $7.39 dividend on an annualized basis and a yield of 9.69%.

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.