PacWest Bancorp, Qurate Retail, Inc., Sirius XM Holdings Inc have been the noticable stocks on a downtrend. Here is what you need to know.
Leading equity indices in the US declined as S&P 500 shed 1.45% and closed at 3,861.59. Nasdaq lost 1.76% and ended the session at 11,139.
What is a downtrend?
The perceived tendency of a price to move in a downward direction over time. A downtrend describes the price movement of a continously depreciative financial asset over a particular time frame. In a downtrend, each successive low and peak is lower than the ones found earlier in the trend. The downtrend is therefore composed of lower swing lows and lower swing highs.
| PacWest Bancorp | 56.38% ($8.42) depreciation over 11 days (76.5455 cents per day average)
After setting a $12.21 – $17.84 range, PacWest Bancorp closed the day 37.91% lower at $12.35. After ending Thursday at $19.89, PacWest Bancorp declined to $12.21 Friday before closing at $12.35, thereby losing 37.91% in total. Daily trading volume (38.21 million shares) was higher than the current multiday average of 3.57 million. Also, the firm paid out a quarterly dividend of 25 cents per share on Tuesday, February 28th to all active shareholders as of Wednesday, February 15th. Eligible investors secured a quarterly dividend yield of 8.1% for this year.
| Qurate Retail | 43.6% (84 cents) depreciation over 9 days (9.3333 cents per day average)
Friday's session continued the recent downtrend: an influx of sellers pushed the US media corporation to session lows around $1.14 while establishing a $1.14 to $1.29 session range Friday. After setting a $1.14 – $1.29 range, Qurate Retail closed the day 6.3% lower at $1.19. Trading volume totalled 7.12 million which equates to around 92% of the stock's 21-day average Friday.
The company has a market cap of $489.25 million with an average daily trading volume of 7.72 million shares. Qurate Retail hit a significant low of $1.19 around 3 days ago, but has since recovered 6.72%. On a negative trend for around a month. Qurate Retail has a forecast of $3.51 billion with an EPS of 14 cents.
| Sirius XM | 38.83% ($2.2) depreciation over a month (5.5 cents per day average)
After setting a $3.64 – $3.8 range, Sirius XM closed the day 3.42% lower at $3.67. Early in Friday's session, Sirius XM dropped to $3.64 from $3.8 at the end of Thursday, before closing at $3.67. During the session, it lost 3.42%.
Daily trading volume (21.71 million shares) was slightly greater than the current multiday average of 17.14 million. Sirius XM distributed a dividend of 2.42 cents per share on Friday, February 24th for all shareholders on record up until Thursday, February 9th. Based on current prices, the decision means shareholders are receiving an annualised dividend yield of 2.64%.