November 15, 2017: Here are four stocks trading with heavy volume among 179 equities making new 52-week lows in Wednesday’s session. On the NYSE decliners led advancers by about 3 to 2 and on the Nasdaq, decliners led advancers by roughly the same ratio.
Synergy Pharmaceuticals Inc. (NASDAQ: SGYP) dropped more than 17% again Wednesday to post a new 52-week low of $1.68 after closing at $2.03 on Tuesday. The 52-week high is $7.15. Volume was around 23 million, nearly four times the daily average of around 6 million. The company had no specific news.
AK Steel Holding Corp. (NYSE: AKS) dropped about 3.4% Wednesday to post a new 52-week low of $4.00 after closing at $4.14 on Tuesday. The 52-week high is $11.39. Volume was reached nearly 18 million, about 15% above the daily average of around 16 million. The company had no specific news.
Kinder Morgan Inc. (NYSE: KMI) dropped about 2.5% Wednesday to post a new 52-week low of $17.00 after closing at $17.43 on Tuesday. The 52-week high is $23.01. Volume was around 14 million, about 40% above the daily average of about 10 million. The company’s Canadian subsidiary has filed a petition with the federal energy regulator asking for a process to resolve potential disagreements with local and tribal governments over the proposed expansion of the Trans Mountain pipeline.
CenturyLink Ink. (NYSE: CTL) dropped about 8.3% Wednesday to post a new 52-week low of $14.06 after closing at $15.33 on Tuesday. The stock’s 52-week high is $27.61. Volume of around 14 million was less than 10% above the daily average. The telecom company declared a quarterly dividend of $0.54 per share payable next month. The dividend yield on the stock is now over 14%, a level that always makes investors nervous. Shares are on track to close the day up nearly 3% on the dividend announcement.