July 7, 2016: Here are four stocks trading with relatively heavy volume among 37 equities making new 52-week lows in Thursday’s session. NYSE advancers and decliners traded roughly evenly while Nasdaq advancers led decliners by about 3 to 2.
Valero Energy Corp. (NYSE: VLO) dropped about 3% on Thursday to post a new 52-week low of $47.21 against a 52-week high of $73.88. Shares closed at $48.66 last night. Volume is about 25% higher than the daily average of around 6 million. The oil refining company had no specific news, but gasoline stockpiles remain high and crude prices dropped nearly 5%.
Deutsche Bank AG (NYSE: DB) dropped about 3.6% on Thursday to post a new 52-week low of $12.50 against a 52-week high of $35.38. Volume was about 40% higher than the daily average of around 4.7 million. The stock closed at $12.97 on Wednesday night. The bank’s said on Wednesday that it would sell some shipping debt to help boost its capital, but low interest rates and on options trader on Thursday bought 9,000 August 12th put options for $1 each.
DHT Holdings Inc. (NYSE: DHT) fell by about 8.2% on Thursday to post a new 52-week low of $4.56 against a high of $8.99. The stock closed at $4.97 on Wednesday night. Volume reached around 3.8 million shares, about 75% above the stock’s daily average of around 2.4 million. The oil-tanker operator had no specific news Thursday.
Teekay Tankers Ltd. (NYSE: TNK) fell by about 7% on Thursday to post a new 52-week low of $2.78 against a high of $8.53. The stock closed at $2.99 on Wednesday night. Volume reached around 2.2 million shares, about equal to the stock’s daily average. Another oil tanker company that had no specific news but appears to be caught by the drop in crude prices.
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