Short Interest in SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Declines By 67.1%

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 2,602 shares, a decrease of 67.1% from the June 15th total of 7,897 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 3,720 shares, the short-interest ratio is presently 0.7 days.

SPDR SSgA Income Allocation ETF Trading Down 0.1%

Shares of SPDR SSgA Income Allocation ETF stock traded down $0.02 on Tuesday, hitting $34.39. 395 shares of the company traded hands, compared to its average volume of 11,036. The firm’s 50-day simple moving average is $34.53 and its 200 day simple moving average is $34.18. The company has a market cap of $71.88 million, a P/E ratio of 20.24 and a beta of 0.50. SPDR SSgA Income Allocation ETF has a 12-month low of $32.04 and a 12-month high of $35.01.

Hedge Funds Weigh In On SPDR SSgA Income Allocation ETF

A number of hedge funds and other institutional investors have recently modified their holdings of INKM. Citadel Advisors LLC increased its position in shares of SPDR SSgA Income Allocation ETF by 7.9% during the 3rd quarter. Citadel Advisors LLC now owns 8,901 shares of the company’s stock valued at $295,000 after purchasing an additional 650 shares during the last quarter. Truist Financial Corp grew its position in SPDR SSgA Income Allocation ETF by 3.1% during the fourth quarter. Truist Financial Corp now owns 57,373 shares of the company’s stock valued at $1,893,000 after acquiring an additional 1,750 shares during the last quarter. Bank of America Corp DE bought a new position in SPDR SSgA Income Allocation ETF during the second quarter valued at approximately $58,000. Royal Bank of Canada raised its stake in shares of SPDR SSgA Income Allocation ETF by 13.6% during the fourth quarter. Royal Bank of Canada now owns 16,049 shares of the company’s stock worth $529,000 after acquiring an additional 1,922 shares in the last quarter. Finally, Manske Wealth Management grew its holdings in shares of SPDR SSgA Income Allocation ETF by 10.5% during the 4th quarter. Manske Wealth Management now owns 90,606 shares of the company’s stock valued at $2,989,000 after purchasing an additional 8,618 shares during the last quarter.

About SPDR SSgA Income Allocation ETF

The SPDR SSgA Income Allocation ETF (INKM) is an exchange-traded fund that is based on the MSCI World index. The fund is an actively-managed, income-focused ETF of domestic and international ETFs with exposure to equities, investment-grade and high-yield debt, preferred stocks and REITs. INKM was launched on Apr 25, 2012 and is managed by State Street.