SLM Co. (NASDAQ:SLMBP) Short Interest Down 57.7% in July

SLM Co. (NASDAQ:SLMBP) was the recipient of a large drop in short interest in the month of July. As of July 15th, there was short interest totaling 5,064 shares, a drop of 57.7% from the June 30th total of 11,964 shares. Based on an average daily volume of 3,503 shares, the short-interest ratio is presently 1.4 days.

SLM Stock Performance

SLMBP opened at $74.18 on Monday. SLM has a one year low of $70.58 and a one year high of $83.05. The company has a fifty day moving average price of $74.66 and a 200-day moving average price of $74.61.

SLM Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Friday, September 4th will be paid a dividend of $1.4393 per share. This is a positive change from SLM’s previous quarterly dividend of $1.43. This represents a $5.76 annualized dividend and a yield of 7.8%. The ex-dividend date of this dividend is Friday, September 4th.

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.