SLM (NASDAQ:SLMBP) Trading Down 0.1% – Here’s What Happened

SLM Co. (NASDAQ:SLMBP) was down 0.1% during mid-day trading on Friday . The company traded as low as $74.03 and last traded at $74.38. Approximately 6,741 shares changed hands during trading, a decline of 41% from the average daily volume of 11,339 shares. The stock had previously closed at $74.44.

SLM Stock Down 0.1 %

The company’s 50 day simple moving average is $74.76 and its 200 day simple moving average is $75.84.

SLM Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 16th. Shareholders of record on Thursday, December 5th will be issued a dividend of $1.7449 per share. The ex-dividend date is Thursday, December 5th. This represents a $6.98 annualized dividend and a yield of 9.38%.

Hedge Funds Weigh In On SLM

An institutional investor recently raised its position in SLM stock. Shikiar Asset Management Inc. raised its stake in SLM Co. (NASDAQ:SLMBP) by 2.8% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 122,518 shares of the company’s stock after buying an additional 3,390 shares during the quarter. SLM comprises approximately 2.5% of Shikiar Asset Management Inc.’s investment portfolio, making the stock its 15th biggest holding. Shikiar Asset Management Inc.’s holdings in SLM were worth $9,284,000 as of its most recent SEC filing.

SLM Company Profile

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.