SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Sees Significant Increase in Short Interest

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) saw a large growth in short interest during the month of May. As of May 15th, there was short interest totaling 14,610 shares, a growth of 140.7% from the April 30th total of 6,071 shares. Approximately 0.7% of the company’s shares are sold short. Based on an average daily volume of 7,222 shares, the days-to-cover ratio is currently 2.0 days.

SPDR SSgA Income Allocation ETF Stock Down 0.3%

Shares of SPDR SSgA Income Allocation ETF stock traded down $0.11 during mid-day trading on Tuesday, hitting $34.58. The stock had a trading volume of 2,603 shares, compared to its average volume of 13,075. The firm has a 50-day moving average of $34.17 and a two-hundred day moving average of $33.91. The firm has a market cap of $75.73 million, a P/E ratio of 20.24 and a beta of 0.51. SPDR SSgA Income Allocation ETF has a 12-month low of $32.02 and a 12-month high of $35.01.

Institutional Investors Weigh In On SPDR SSgA Income Allocation ETF

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Manske Wealth Management raised its holdings in SPDR SSgA Income Allocation ETF by 10.5% in the 4th quarter. Manske Wealth Management now owns 90,606 shares of the company’s stock valued at $2,989,000 after buying an additional 8,618 shares during the period. LPL Financial LLC increased its position in shares of SPDR SSgA Income Allocation ETF by 40.7% during the fourth quarter. LPL Financial LLC now owns 64,015 shares of the company’s stock valued at $2,112,000 after acquiring an additional 18,523 shares during the last quarter. Truist Financial Corp raised its stake in shares of SPDR SSgA Income Allocation ETF by 3.1% in the 4th 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 period. Envestnet Asset Management Inc. boosted its position in shares of SPDR SSgA Income Allocation ETF by 5.8% during the 3rd quarter. Envestnet Asset Management Inc. now owns 55,813 shares of the company’s stock worth $1,849,000 after purchasing an additional 3,077 shares during the period. Finally, Wells Fargo & Company MN increased its holdings in SPDR SSgA Income Allocation ETF by 76.0% in the 4th quarter. Wells Fargo & Company MN now owns 40,203 shares of the company’s stock valued at $1,326,000 after purchasing an additional 17,362 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.