SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Stock Short Interest Jumps 234.6%

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) saw a significant growth in short interest in October. As of October 15th, there was short interest totaling 1,586 shares, a growth of 234.6% from the September 30th total of 474 shares. Based on an average daily volume of 11,930 shares, the short-interest ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are sold short.

Institutional Trading of SPDR SSgA Income Allocation ETF

Several hedge funds and other institutional investors have recently modified their holdings of INKM. Ameritas Advisory Services LLC lifted its stake in SPDR SSgA Income Allocation ETF by 23.1% during the 2nd quarter. Ameritas Advisory Services LLC now owns 18,725 shares of the company’s stock valued at $643,000 after acquiring an additional 3,513 shares during the period. Retireful LLC purchased a new stake in shares of SPDR SSgA Income Allocation ETF during the 2nd quarter valued at about $309,000. Finally, Elevation Capital Advisory LLC purchased a new stake in shares of SPDR SSgA Income Allocation ETF during the 3rd quarter valued at about $1,156,000.

SPDR SSgA Income Allocation ETF Trading Down 0.1%

INKM stock opened at $33.96 on Friday. The stock’s fifty day simple moving average is $33.90 and its two-hundred day simple moving average is $34.22. SPDR SSgA Income Allocation ETF has a 1-year low of $32.71 and a 1-year high of $35.01. The stock has a market cap of $70.30 million, a P/E ratio of 20.24 and a beta of 0.51.

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.