SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Short Interest Up 1,700.0% in October

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the target of a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 3,600 shares, a growth of 1,700.0% from the September 30th total of 200 shares. Currently, 0.2% of the shares of the company are sold short. Based on an average daily trading volume, of 10,800 shares, the short-interest ratio is currently 0.3 days. Based on an average daily trading volume, of 10,800 shares, the short-interest ratio is currently 0.3 days. Currently, 0.2% of the shares of the company are sold short.

SPDR SSgA Income Allocation ETF Stock Performance

NYSEARCA INKM opened at $33.53 on Tuesday. The stock has a 50-day simple moving average of $33.21 and a two-hundred day simple moving average of $32.53. The firm has a market capitalization of $68.07 million, a P/E ratio of 20.24 and a beta of 0.54. SPDR SSgA Income Allocation ETF has a fifty-two week low of $29.92 and a fifty-two week high of $33.60.

Hedge Funds Weigh In On SPDR SSgA Income Allocation ETF

A number of institutional investors have recently modified their holdings of the stock. Envestnet Asset Management Inc. purchased a new position in shares of SPDR SSgA Income Allocation ETF in the 1st quarter valued at about $1,791,000. Jones Financial Companies Lllp acquired a new stake in SPDR SSgA Income Allocation ETF in the 1st quarter worth about $1,533,000. Ballast Inc. acquired a new stake in SPDR SSgA Income Allocation ETF in the 2nd quarter worth about $204,000. LPL Financial LLC boosted its holdings in SPDR SSgA Income Allocation ETF by 4.6% in the 1st quarter. LPL Financial LLC now owns 108,587 shares of the company’s stock worth $3,453,000 after buying an additional 4,789 shares during the last quarter. Finally, Bank of America Corp DE acquired a new stake in SPDR SSgA Income Allocation ETF in the 2nd quarter worth about $58,000.

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.