January 25, 2016: Here are four stocks trading with heavy volume among 130 equities making new 52-week lows today.
Bank of America Corp. (NYSE: BAC) dropped about 3.9% on Monday to post a new 52-week low of $13.03 against a 52-week high of $18.48. The stock closed at $13.56 on Friday night. Volume topped 135 million shares, about 40% more than the stock’s daily average volume of around 92 million. The big bank had no specific news today, but financial stocks were among the worst performers for the session.
Vale SA (NYSE: VALE) fell about 5.7% on Monday to post a new 52-week low of $2.14 against a high of $9.14. The stock closed at $2.27 on Friday night. Volume rose to around 22 million, about 10% below the daily average of around 24 million shares traded. The Brazil-based mining company had no specific news for the day, but suffered on reports that iron ore prices will continue to be pressured in 2016.
Potash Corp. of Saskatchewan Inc. (NYSE: POT) posted a new low on Monday. Shares dropped about 9% to a low of $14.64 from Friday’s closing price of $16.09. The stock’s 52-week high is $37.60. Volume of nearly 21 million was about 3 times the daily average of around 8 million shares. The fertilizer maker was downgraded at JP Morgan this morning and there are fears that the dividend, current giving a yield of about 9.5%, will be cut.
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Fifth Third Bancorp (NASDAQ: FITB) dropped about 6.5% on Monday to post a new 52-week low at $14.90 after closing at $15.94 on Friday. The stock’s 52-week high is $21.93. Share volume totaled nearly 21 million shares compared with the daily average of around 9 million shares traded. The bank had no specific news today.
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