<<I also own it and am also perplexed by the way it trades. Sometimes it trades with TIPS, and sometimes opposite>>I think today's action (in which ISM, for example, lost a bit over 1%), might have been due (at least in part) to SLM. SLM was down over 4.5% today, after earnings were announced.I don't think SLM earnings played much of a role at all. In fact, the almost equivalent issue OSM rose a bit today (JSM also rose a bit), while ISM fell a bit!These trade very thinly and erratically and when compared with SLM have what appears to be little correlation (at least visually on a comparison graph). Because of the thin trading, the closing price isn't necessarily very meaningful, for example, the last 3 trades today at 22.15 were in volumes of 200 each trade.
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