Short Interest in SLM Co. (NASDAQ:SLMBP) Expands By 481.0%

SLM Co. (NASDAQ:SLMBPGet Free Report) was the recipient of a significant increase in short interest during the month of January. As of January 31st, there was short interest totalling 12,200 shares, an increase of 481.0% from the January 15th total of 2,100 shares. Based on an average daily trading volume, of 12,000 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. lifted its position in shares of SLM Co. (NASDAQ:SLMBPFree Report) by 298.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 104,943 shares of the company’s stock after acquiring an additional 78,600 shares during the quarter. SLM accounts for approximately 2.2% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 16th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $6,942,000 at the end of the most recent quarter.

SLM Stock Up 0.3 %

Shares of SLM stock traded up $0.22 during trading hours on Monday, hitting $71.74. The company’s stock had a trading volume of 7,334 shares, compared to its average volume of 17,187. The stock has a 50 day moving average of $69.16 and a 200 day moving average of $65.32. SLM has a 12 month low of $53.20 and a 12 month high of $72.32.

SLM Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, March 15th. Investors of record on Monday, March 4th will be issued a $1.8552 dividend. This represents a $7.42 dividend on an annualized basis and a dividend yield of 10.34%. The ex-dividend date is Friday, March 1st.

About SLM

(Get Free Report)

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 also offers retail deposit accounts, including certificates of deposit, money market deposit accounts, and high-yield savings accounts; and interest-bearing omnibus accounts.

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