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

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the target of a significant decrease in short interest during the month of August. As of August 14th, there was short interest totaling 1,364 shares, a decrease of 82.2% from the July 30th total of 7,650 shares. Based on an average daily volume of 4,424 shares, the short-interest ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock 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. Manske Wealth Management lifted its holdings in shares of SPDR SSgA Income Allocation ETF by 10.5% during the fourth 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. LPL Financial LLC raised its holdings in SPDR SSgA Income Allocation ETF by 40.7% during the 4th quarter. LPL Financial LLC now owns 64,015 shares of the company’s stock worth $2,112,000 after buying an additional 18,523 shares during the period. Truist Financial Corp raised its holdings in SPDR SSgA Income Allocation ETF by 3.1% during the 4th quarter. Truist Financial Corp now owns 57,373 shares of the company’s stock worth $1,893,000 after buying an additional 1,750 shares during the period. Wells Fargo & Company MN lifted its stake in SPDR SSgA Income Allocation ETF by 76.0% during the fourth 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. Finally, Ameritas Advisory Services LLC lifted its stake in SPDR SSgA Income Allocation ETF by 23.1% during the second quarter. Ameritas Advisory Services LLC now owns 18,725 shares of the company’s stock valued at $643,000 after buying an additional 3,513 shares in the last quarter.

SPDR SSgA Income Allocation ETF Stock Down 0.1%

NYSEARCA:INKM traded down $0.05 during trading hours on Wednesday, reaching $34.87. 6,159 shares of the company’s stock were exchanged, compared to its average volume of 10,057. The company has a market capitalization of $75.32 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 $32.71 and a 12 month high of $35.01. The business’s 50-day simple moving average is $34.56 and its two-hundred day simple moving average is $34.41.

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.