January 26, 2016: Here are four stocks trading with heavy volume among 105 equities making new 52-week lows today.
Huntington Bancshares Inc. (NASDAQ: HBAN) dropped about 11% on Tuesday to post a new 52-week low of $7.83 against a 52-week high of $11.90 The stock closed at $8.80 on Monday night. Volume topped 77 million shares, nearly 8 times the stock’s daily average volume of around 10 million. The bank announced that it is acquiring a rival Ohio bank for $3.4 billion.
Vale SA (NYSE: VALE) fell about 1% on Tuesday to post a new 52-week low of $2.13 against a high of $9.14. The stock closed at $2.15 on Monday 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, and actually turned around during the day to trade up about 2.8% at $2.21 shortly before the closing bell.
Petroleo Brasileiro SA (NYSE: PBR-A) matched a 52-week low on Tuesday. Shares dropped traded at a low of $1.99, equal to Monday’s closing price. The stock’s 52-week high is $9.71. Volume of nearly 14 million was about 20% above the daily average of around 11 million shares. The Brazilian oil giant had no specific news today. Like Vale, shares are poised for a higher close today.
Ensco plc (NYSE: ESV) dropped about 1% on Tuesday to post a new 52-week low at $8.77 after closing at $8.86 on Monday. The stock’s 52-week high is $32.28. Share volume totaled more than 9 million shares compared with the daily average of around 6.7 million shares traded. The offshore oil driller had no specific news today, but like Vale and Petrobras, is headed for a higher close as markets approach the closing bell.
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