Automobile ETFs Race Ahead As Ford Doubles Production For Electric Pickup

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Automobile ETFs

Ford Motor Co. (NYSE: F) shares surged to a two-decade high after the automaker doubled its production goal for its F-150 electric pickup on popular demand, lifting automobile-themed exchange-traded funds.

On Tuesday, the First Trust Nasdaq Transportation ETF (FTXR) gained 3.0% and the First Trust NASDAQ Global Auto Index Fund (CARZ) increased 3.9%.

Meanwhile, Ford shares jumped 11.3%. Ford makes up 8.6% of CARZ’s underlying portfolio and 8.2% of FTXR’s.

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