SLM (NASDAQ:SLMBP) Shares Down 0.1% – Here’s Why

SLM Co. (NASDAQ:SLMBP) traded down 0.1% on Friday . The company traded as low as $74.03 and last traded at $74.38. 6,741 shares traded hands during mid-day trading, a decline of 41% from the average session volume of 11,339 shares. The stock had previously closed at $74.44.

SLM Price Performance

The firm has a 50 day moving average of $74.76 and a 200-day moving average of $75.86.

SLM Cuts Dividend

The business also recently announced 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. This represents a $6.98 annualized dividend and a dividend yield of 9.38%. The ex-dividend date of this dividend is Thursday, December 5th.

Hedge Funds Weigh In On SLM

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 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the quarter. 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 SEC filing.

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.