Navient Co. SR NT 6% 121543 (NASDAQ:JSM) Sees Significant Decline in Short Interest

Navient Co. SR NT 6% 121543 (NASDAQ:JSM) was the recipient of a significant decline in short interest during the month of August. As of August 14th, there was short interest totaling 3,759 shares, a decline of 39.6% from the July 30th total of 6,225 shares. Based on an average daily volume of 13,652 shares, the days-to-cover ratio is currently 0.3 days.

Navient Co. SR NT 6% 121543 Trading Down 0.1%

JSM traded down $0.01 during midday trading on Monday, reaching $18.21. 5,995 shares of the company’s stock traded hands, compared to its average volume of 13,347. The firm has a fifty day moving average of $17.79 and a two-hundred day moving average of $18.35. Navient Co. SR NT 6% 121543 has a 52 week low of $17.24 and a 52 week high of $20.65.

Navient Co. SR NT 6% 121543 Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Monday, September 14th will be given a dividend of $0.375 per share. This represents a $1.50 annualized dividend and a yield of 8.2%. The ex-dividend date of this dividend is Monday, September 14th.

Navient Co. SR NT 6% 121543 Company Profile

Navient Co SR NT 6% 121543 (NASDAQ:JSM) is a series of senior unsecured notes issued by Navient Corporation. The notes carry a fixed annual interest rate of 6.00% and mature on December 15, 2043. As unsecured obligations, they rank pari passu with all of Navient’s other unsubordinated debt and are structurally subordinated to any secured borrowings.

Interest on these notes is payable semi-annually on June 15 and December 15 of each year. Beginning December 15, 2023, Navient has the option to redeem the notes, in whole or in part, at a specified redemption price plus accrued interest, subject to the terms set forth in the governing indenture under which the notes were issued and trade under the ticker symbol JSM.

Navient Corporation, the issuer behind this debt issue, provides asset management and business processing solutions to education loan portfolios in the United States.