SPDR SSgA Global Allocation ETF (NYSEARCA:GAL) Sees Large Increase in Short Interest

SPDR SSgA Global Allocation ETF (NYSEARCA:GAL) saw a large increase in short interest in the month of May. As of May 29th, there was short interest totaling 14,133 shares, an increase of 1,042.5% from the May 14th total of 1,237 shares. Currently, 0.2% of the company’s shares are sold short. Based on an average daily volume of 10,458 shares, the days-to-cover ratio is presently 1.4 days.

SPDR SSgA Global Allocation ETF Stock Performance

NYSEARCA:GAL traded up $0.26 during trading hours on Thursday, reaching $52.54. The company’s stock had a trading volume of 4,977 shares, compared to its average volume of 16,342. The firm has a market capitalization of $307.88 million, a price-to-earnings ratio of 18.24 and a beta of 0.61. SPDR SSgA Global Allocation ETF has a 1 year low of $46.22 and a 1 year high of $55.24. The firm has a 50-day simple moving average of $52.29 and a 200-day simple moving average of $51.06.

Institutional Trading of SPDR SSgA Global Allocation ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in GAL. Capital Analysts LLC bought a new position in shares of SPDR SSgA Global Allocation ETF during the fourth quarter worth $60,000. Key Financial Inc boosted its holdings in shares of SPDR SSgA Global Allocation ETF by 47.4% in the 3rd quarter. Key Financial Inc now owns 1,518 shares of the company’s stock valued at $75,000 after buying an additional 488 shares in the last quarter. Western Wealth Management LLC acquired a new stake in SPDR SSgA Global Allocation ETF in the 1st quarter worth approximately $122,000. GGM Financials LLC acquired a new stake in SPDR SSgA Global Allocation ETF during the 3rd quarter valued at approximately $123,000. Finally, N.E.W. Advisory Services LLC lifted its stake in SPDR SSgA Global Allocation ETF by 13.6% during the 4th quarter. N.E.W. Advisory Services LLC now owns 3,457 shares of the company’s stock valued at $171,000 after acquiring an additional 413 shares during the period.

About SPDR SSgA Global Allocation ETF

The SPDR SSgA Global Allocation ETF (GAL) is an exchange-traded fund that is based on the MSCI ACWI IMI index. The fund is an actively-managed fund of funds that provides the majority of its returns from capital gains by investing across asset classes. GAL was launched on Apr 25, 2012 and is managed by State Street.