SLM Co. (NASDAQ:SLMBP) Short Interest Down 33.3% in October

SLM Co. (NASDAQ:SLMBP) was the recipient of a significant decrease in short interest during the month of October. As of October 31st, there was short interest totalling 3,400 shares, a decrease of 33.3% from the October 15th total of 5,100 shares. Based on an average daily volume of 13,000 shares, the days-to-cover ratio is presently 0.3 days.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in SLM stock. Shikiar Asset Management Inc. increased its holdings in shares of SLM Co. (NASDAQ:SLMBP) by 2.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 122,518 shares of the company’s stock after purchasing an additional 3,390 shares during the period. SLM accounts for about 2.5% of Shikiar Asset Management Inc.’s holdings, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent filing with the Securities and Exchange Commission.

SLM Price Performance

Shares of SLMBP traded down $0.06 during mid-day trading on Friday, hitting $74.38. The company had a trading volume of 6,741 shares, compared to its average volume of 11,339. SLM has a 1-year low of $65.42 and a 1-year high of $80.67. The business’s 50-day simple moving average is $74.76 and its 200-day simple moving average is $75.86.

SLM Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 16th. Stockholders of record on Thursday, December 5th will be issued a dividend of $1.7449 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.98 dividend on an annualized basis and a dividend yield of 9.38%.

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.