SLM Co. (NASDAQ:SLMBP) Sees Significant Growth in Short Interest

SLM Co. (NASDAQ:SLMBP) was the target of a significant increase in short interest in August. As of August 14th, there was short interest totaling 7,266 shares, an increase of 60.9% from the July 30th total of 4,515 shares. Based on an average trading volume of 3,917 shares, the days-to-cover ratio is currently 1.9 days.

SLM Stock Down 0.3%

NASDAQ:SLMBP traded down $0.21 during trading hours on Wednesday, hitting $74.62. 2,736 shares of the company were exchanged, compared to its average volume of 3,466. SLM has a 52-week low of $70.58 and a 52-week high of $76.81. The company’s 50 day moving average price is $74.64 and its 200-day moving average price is $74.77.

SLM Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be given a dividend of $1.4393 per share. The ex-dividend date of this dividend is Friday, September 4th. This represents a $5.76 dividend on an annualized basis and a yield of 7.7%. This is an increase from SLM’s previous quarterly dividend of $1.43.

SLM Company Profile

SLM Corporation, doing business as Sallie Mae, is a U.S.-based provider of private student loans, servicing, and banking products. The company specializes in originating and servicing education loans for undergraduate, graduate and professional students, as well as career and technical training programs. In addition to its core student lending business, Sallie Mae offers deposit products, credit cards and digital tools designed to help customers manage personal finances and plan for higher-education expenses.

Sallie Mae’s product suite includes fixed- and variable-rate private student loans, graduate student loans, parent loans and career training loans.