Short Interest in SLM Co. (NASDAQ:SLMBP) Expands By 725.0%

SLM Co. (NASDAQ:SLMBP) was the recipient of a large growth in short interest in April. As of April 15th, there was short interest totalling 3,300 shares, a growth of 725.0% from the March 31st total of 400 shares. Based on an average daily trading volume, of 15,800 shares, the short-interest ratio is presently 0.2 days.

Institutional Investors Weigh In On SLM

A hedge fund recently bought a new stake in SLM stock. Shikiar Asset Management Inc. purchased a new stake in shares of SLM Co. (NASDAQ:SLMBP) during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 26,343 shares of the company’s stock, valued at approximately $1,626,000.

SLM Price Performance

NASDAQ SLMBP traded up $0.39 during trading hours on Thursday, hitting $76.20. The company’s stock had a trading volume of 3,124 shares, compared to its average volume of 14,253. SLM has a 52 week low of $53.20 and a 52 week high of $78.00. The company’s 50-day simple moving average is $74.23 and its two-hundred day simple moving average is $70.17.

SLM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, June 17th. Shareholders of record on Thursday, June 6th will be paid a $1.9038 dividend. This represents a $7.62 dividend on an annualized basis and a yield of 9.99%. This is a boost from SLM’s previous quarterly dividend of $1.86. The ex-dividend date is Thursday, June 6th.

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.