During trading today, both the Transportation sector (IYT) and the S&P500 showed little movement.
As a proxy for the sector, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, IYT was up 4.5% over the last thirty trading days while the S&P 500 climbed 2.7%.
Alaska Air Group (ALK) rose 4650% to close at $36.10, crossing its 50-day moving average of $32.57. Meanwhile, Forward Air Corporation (FWRD) dropped 1.5% to close at $33.31, moving below its 200-day moving average or $33.33.
Teekay Corporation (TK) rose 5% to close at $28.23, approaching its 50-day moving average of $29.17. It has also moved closer to its 200-day moving average of $29.52. Old Dominion Freight Line (AIRM) fell 1.9% to close at $43.69, moving closer to its 50-day moving average of $43.61. Also, the stock moved closer to its 200-day moving average of $86.58.
Danaos Corporation (DAC) was a significant gainer in the sector, rising 8%. The stock closed at $4.45 with 14,175 shares moving. The stock traded in a range of $4.05 to $4.46. Share price is up 70 cents (18.7%) from $3.75 on May 21, 2012.
Genco Shipping & Trading (GNK) was one of the sector's big losers, as its price dropped 8% (-26 cents) to close at $2.99. 886,537 shares of the stock moved. The stock traded between $2.99 and $3.28.
Allegiant Travel Company (ALGT) hit a new 52-week high today, reaching $71 to top the previous high of $68.83.