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

by · The Cerbat Gem

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM – Get Free Report) was the recipient of a large increase in short interest in the month of April. As of April 30th, there was short interest totaling 6,071 shares, an increase of 533.7% from the April 15th total of 958 shares. Based on an average daily volume of 22,674 shares, the short-interest ratio is presently 0.3 days. Approximately 0.3% of the company’s shares are sold short.

Institutional Investors Weigh In On SPDR SSgA Income Allocation ETF

Institutional investors and hedge funds have recently modified their holdings of the stock. Elevation Capital Advisory LLC purchased a new stake in shares of SPDR SSgA Income Allocation ETF in the 3rd quarter worth about $5,474,000. LPL Financial LLC lifted its position in shares of SPDR SSgA Income Allocation ETF by 40.7% in the 4th quarter. LPL Financial LLC now owns 64,015 shares of the company’s stock worth $2,112,000 after purchasing an additional 18,523 shares during the period. Wells Fargo & Company MN lifted its position in SPDR SSgA Income Allocation ETF by 76.0% during the 4th quarter. Wells Fargo & Company MN now owns 40,203 shares of the company’s stock valued at $1,326,000 after acquiring an additional 17,362 shares during the period. Citadel Advisors LLC lifted its position in 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 acquiring an additional 650 shares during the period. Finally, Bank of America Corp DE purchased a new position in SPDR SSgA Income Allocation ETF during the 2nd quarter valued at about $58,000.

SPDR SSgA Income Allocation ETF Stock Down 0.1%

Shares of NYSEARCA:INKM traded down $0.05 on Tuesday, hitting $34.47. The company had a trading volume of 8,281 shares, compared to its average volume of 12,802. The firm’s 50-day simple moving average is $34.09 and its two-hundred day simple moving average is $33.78. SPDR SSgA Income Allocation ETF has a 1 year low of $31.71 and a 1 year high of $35.01. The firm has a market capitalization of $75.49 million, a price-to-earnings ratio of 20.24 and a beta of 0.51.

About SPDR SSgA Income Allocation ETF

(Get Free Report)

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.

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