The Transportation sector (IYT) held steady during a trading day that saw the S&P 500 grow 0.1%.
The ETF, as a proxy for the sector, tracked closer to the overall market today than over the past month. As trading began today, IYT was up 0.2% over the last thirty trading days, and the S&P 500 climbed 3.4%.
FreeSeas (FREE) was a major loser in the sector, falling 12.7% (-5 cents) to close at 33 cents with 17,717 shares moving. The stock traded between 33 cents and 36 cents.
Overseas Shipholding Group (OSG) was a significant gainer in the sector, rising 5%. The stock closed at $7.20 with 519,243 shares moving. The stock traded in a range of $6.70 to $7.23. Shares are down over the last two months as the price has dropped $2.60 (-26.5%) from a price of $9.80 on June 18, 2012.
Swift Transportation Company (SWFT) rose 4.1% to close at $8.64, crossing its 50-day moving average of $8.49. Meanwhile, Nordic American Tanker Shipping (NAT) dropped 2% to close at $12.64, moving below its 200-day moving average or $13.39.
Con Way (CNW) rose 2.3% to close at $30.90, approaching its 50-day moving average of $33.29. It has also moved closer to its 200-day moving average of $32.94.
Knightsbridge Tankers (VLCCF) hit a new 52-week low today, hitting $7.71 to fall below the previous low of $7.77.