Short Interest in SLM Co. (NASDAQ:SLMBP) Grows By 60.9%

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

SLM Stock Performance

Shares of SLMBP stock traded down $0.23 during trading hours on Monday, reaching $75.00. The company had a trading volume of 1,544 shares, compared to its average volume of 3,456. The business has a fifty day moving average price of $74.64 and a 200-day moving average price of $74.78. SLM has a one year low of $70.58 and a one year high of $76.81.

SLM Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, September 15th. Shareholders of record on Friday, September 4th will be paid a dividend of $1.4393 per share. The ex-dividend date is Friday, September 4th. This represents a $5.76 dividend on an annualized basis and a yield of 7.7%. This is a boost 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.