Food Shortage, Fuel Prices Keep Transportation ETF Chugging | ETF Trends

One would think that airlines would be dragging down the transportation sector and its exchange traded fund (ETF), but that isn’t the case in trading today. The  iShares Dow Jones Transportation Average (IYT) is trading at all-time highs, in fact.

Airlines don’t even find themselves among the top ten holdings of the fund. The top components, instead, are primarily railroads, trucking and shipping companies.

Shares of railroad companies shot higher today because one analyst upgraded Union Pacific (UNP), which is 12.5% of IYT. UNP’s shares are trading at all-time highs midday.

The 12-month target prices for two other rail companies were also raised and package shippers saw their shares rise in early trading, too, despite the fact that oil continues to climb, the Associated Press reports.

A few other rail and shipping companies are trading at all-time highs today as well, including: