SLM Co. (NASDAQ:SLMBP) Short Interest Up 725.0% in April

SLM Co. (NASDAQ:SLMBP) was the target of a significant 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 trading volume of 15,800 shares, the days-to-cover ratio is presently 0.2 days.

SLM Stock Performance

SLM stock traded up $0.39 during mid-day trading on Thursday, reaching $76.20. The stock had a trading volume of 3,124 shares, compared to its average volume of 14,253. SLM has a one year low of $53.20 and a one year high of $78.00. The company has a 50-day moving average price of $74.23 and a two-hundred day moving average price of $70.17.

SLM Increases Dividend

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

Institutional Inflows and Outflows

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

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.