Short Interest in SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Expands By 3,162.1%

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 44,495 shares, an increase of 3,162.1% from the August 15th total of 1,364 shares. Currently, 2.1% of the company’s shares are short sold. Based on an average daily volume of 21,196 shares, the short-interest ratio is currently 2.1 days.

Hedge Funds Weigh In On SPDR SSgA Income Allocation ETF

Hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE purchased a new position in shares of SPDR SSgA Income Allocation ETF during the second quarter worth approximately $58,000. Citadel Advisors LLC raised its stake 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 valued at $295,000 after acquiring an additional 650 shares in the last quarter. Retireful LLC purchased a new stake in shares of SPDR SSgA Income Allocation ETF in the second quarter valued at approximately $309,000. Ameritas Advisory Services LLC boosted its holdings in shares of 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 during the period. Finally, Royal Bank of Canada grew its stake in SPDR SSgA Income Allocation ETF by 13.6% in the fourth quarter. Royal Bank of Canada now owns 16,049 shares of the company’s stock worth $529,000 after purchasing an additional 1,922 shares in the last quarter.

SPDR SSgA Income Allocation ETF Stock Down 0.7%

INKM stock traded down $0.25 during trading on Thursday, hitting $34.16. The company had a trading volume of 3,279 shares, compared to its average volume of 10,822. The firm has a market capitalization of $73.79 million, a P/E ratio of 20.24 and a beta of 0.50. SPDR SSgA Income Allocation ETF has a 52-week low of $32.71 and a 52-week high of $35.01. The company has a 50 day simple moving average of $34.58 and a 200-day simple moving average of $34.41.

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.