SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Short Interest Down 60.6% in May

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 5,759 shares, a decrease of 60.6% from the May 14th total of 14,610 shares. Currently, 0.3% of the shares of the stock are short sold. Based on an average daily volume of 19,292 shares, the short-interest ratio is presently 0.3 days.

SPDR SSgA Income Allocation ETF Stock Performance

Shares of NYSEARCA INKM traded up $0.12 during midday trading on Friday, reaching $34.82. The stock had a trading volume of 924 shares, compared to its average volume of 12,439. The stock has a 50-day moving average of $34.37 and a 200-day moving average of $34.01. The company has a market capitalization of $76.26 million, a price-to-earnings ratio of 20.24 and a beta of 0.50. SPDR SSgA Income Allocation ETF has a 12-month low of $32.02 and a 12-month high of $35.01.

Institutional Trading of SPDR SSgA Income Allocation ETF

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Manske Wealth Management increased its stake in shares of SPDR SSgA Income Allocation ETF by 10.5% in the fourth quarter. Manske Wealth Management now owns 90,606 shares of the company’s stock worth $2,989,000 after purchasing an additional 8,618 shares in the last quarter. LPL Financial LLC increased its stake in shares of SPDR SSgA Income Allocation ETF by 40.7% in the fourth 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 in the last quarter. Truist Financial Corp increased its stake in shares of SPDR SSgA Income Allocation ETF by 3.1% in the fourth quarter. Truist Financial Corp now owns 57,373 shares of the company’s stock worth $1,893,000 after purchasing an additional 1,750 shares in the last quarter. Envestnet Asset Management Inc. increased its stake in shares of SPDR SSgA Income Allocation ETF by 5.8% in the third 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 in the last quarter. Finally, Wells Fargo & Company MN increased its stake in shares of SPDR SSgA Income Allocation ETF by 76.0% in the fourth quarter. Wells Fargo & Company MN now owns 40,203 shares of the company’s stock worth $1,326,000 after purchasing an additional 17,362 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.