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

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a significant growth in short interest in 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 days-to-cover ratio is currently 2.0 days. Currently, 0.7% of the shares of the stock are sold short.

SPDR SSgA Income Allocation ETF Stock Performance

Shares of INKM traded down $0.11 during trading hours on Monday, hitting $34.58. 2,603 shares of the stock were exchanged, compared to its average volume of 13,075. 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 cap of $75.73 million, a price-to-earnings ratio of 20.24 and a beta of 0.51. The stock’s 50-day moving average price is $34.17 and its two-hundred day moving average price is $33.91.

Institutional Trading of SPDR SSgA Income Allocation ETF

Several large investors have recently added to or reduced their stakes in the stock. Royal Bank of Canada grew its holdings in SPDR SSgA Income Allocation ETF by 13.6% in the 4th quarter. Royal Bank of Canada now owns 16,049 shares of the company’s stock valued at $529,000 after buying an additional 1,922 shares in the last quarter. Wells Fargo & Company MN grew 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 buying an additional 17,362 shares in the last quarter. LPL Financial LLC grew its holdings in 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 valued at $2,112,000 after buying an additional 18,523 shares in the last quarter. Ameritas Advisory Services LLC grew its holdings in SPDR SSgA Income Allocation ETF by 1,405.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 13,174 shares of the company’s stock valued at $435,000 after buying an additional 12,299 shares in the last quarter. Finally, Manske Wealth Management grew 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 in 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.