Surely, Transportation ETF Gets a Lift from Airline Stocks (Don’t Call Them Shirley)
April 29th at 3:00pm by Tom Lydon
The transportation exchange traded fund (ETF) wrapped up trading today slightly higher after oil prices took a breather.
The iShares Dow Jones Transportation Average (IYT) was up 0.8% after three of its airline holdings blasted off in trading today. Oil prices closed at $116.44 after demand for gas and other petroleum products dropped sharply in February.
- Continental Airlines, Inc. (CAL), up 3.5%; 1.9% of the fund
- Southwest Airlines (LUV), up 3.3%; 1.4% of the fund
- JetBlue Airways (JBLU), up 2.6%; 0.6% of the fund
Year-to-date, IYT is up 14%.
For full disclosure, some of Tom Lydon’s clients own shares of IYT.
