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

Navient Co. SR NT 6% 121543 (NASDAQ:JSM) was the target of a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 3,022 shares, a decrease of 82.8% from the June 30th total of 17,581 shares. Based on an average daily trading volume, of 11,385 shares, the days-to-cover ratio is presently 0.3 days.

Navient Co. SR NT 6% 121543 Price Performance

JSM traded down $0.02 during mid-day trading on Friday, reaching $17.32. 12,062 shares of the stock were exchanged, compared to its average volume of 13,876. The company has a 50 day moving average price of $18.09 and a two-hundred day moving average price of $18.68. Navient Co. SR NT 6% 121543 has a 1 year low of $17.24 and a 1 year high of $20.65.

Navient Co. SR NT 6% 121543 Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 15th. Investors of record on Monday, September 14th will be given a dividend of $0.375 per share. This represents a $1.50 dividend on an annualized basis and a dividend yield of 8.7%. The ex-dividend date of this dividend is Monday, September 14th.

About Navient Co. SR NT 6% 121543

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.