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

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a large growth in short interest in 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. Based on an average daily volume of 7,222 shares, the short-interest ratio is currently 2.0 days. Approximately 0.7% of the company’s shares are short sold.

SPDR SSgA Income Allocation ETF Stock Performance

Shares of INKM stock traded down $0.03 on Friday, reaching $34.69. 446 shares of the company’s stock traded hands, compared to its average volume of 13,178. SPDR SSgA Income Allocation ETF has a 12-month low of $32.02 and a 12-month high of $35.01. The company has a market capitalization of $75.97 million, a P/E ratio of 20.24 and a beta of 0.51. The business’s 50 day moving average price is $34.15 and its two-hundred day moving average price is $33.90.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new stake in SPDR SSgA Income Allocation ETF in the 2nd quarter worth approximately $58,000. Jones Financial Companies Lllp raised its holdings in shares of SPDR SSgA Income Allocation ETF by 62.2% during the third quarter. Jones Financial Companies Lllp now owns 2,172 shares of the company’s stock worth $72,000 after acquiring an additional 833 shares in the last quarter. Citadel Advisors LLC raised its holdings in shares of SPDR SSgA Income Allocation ETF by 7.9% during the third quarter. Citadel Advisors LLC now owns 8,901 shares of the company’s stock worth $295,000 after acquiring an additional 650 shares in the last quarter. Retireful LLC acquired a new stake in SPDR SSgA Income Allocation ETF during the fourth quarter valued at $382,000. Finally, Ameritas Advisory Services LLC grew its stake in SPDR SSgA Income Allocation ETF by 1,405.6% in the fourth quarter. Ameritas Advisory Services LLC now owns 13,174 shares of the company’s stock valued at $435,000 after purchasing an additional 12,299 shares in the last quarter.

SPDR SSgA Income Allocation ETF Company Profile

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.