During trading today, the S&P 500 dropped 0.1%, and the Transportation sector (IYT) showed little change.
Although it went in the opposite direction of the market today, the ETF tracked closer to the overall market today than over the past month. Entering today's trading, IYT was down 1.2% over the last thirty trading days while the S&P 500 was up 2%.
Increasing 12.2% (+26 cents) to close at $2.39, Frozen Food Express Industries (FFEX) was a major gainer in the sector. Today, 564,020 shares traded hands. The stock traded in a range of $2.13 to $2.42.
Globus Maritime (GLBS) was a major loser in the sector, falling 7.1% (-21 cents) to close at $2.70 with 14,205 shares moving. The stock traded in a range of $2.52 to $2.91. The stock has lost momentum over the last three months, losing 91 cents (-25.2%) from $3.61 on June 1, 2012.
Genco Shipping & Trading (GNK) rose 4.6% to close at $3.16, crossing its 50-day moving average of $3.09. Meanwhile, XPO Logistics (XPO) dropped 3.3% to close at $14.81, moving below its 200-day moving average or $15.45.
International Shipholding Corporation (ISH) rose 3.9% to close at $17.05, approaching its 50-day moving average of $18.06. It has also moved closer to its 200-day moving average of $19.53. Echo Global Logistics (ECHO) fell 5.2% to close at $18.28, moving down to 2.6% above its 200-day moving average of $17.80.
Patriot Transportation (PATR) hit a new 52-week high today, reaching $26.56 to top the previous high of $26.
Knightsbridge Tankers (VLCCF) hit a new 52-week low today, hitting $6.23 to fall below the previous low of $6.60.