SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Sees Significant Drop in Short Interest

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) was the recipient of a large drop in short interest during the month of March. As of March 13th, there was short interest totaling 8,093 shares, a drop of 32.6% from the February 26th total of 12,001 shares. Based on an average daily trading volume, of 7,021 shares, the short-interest ratio is currently 1.2 days. Approximately 0.4% of the shares of the company are sold short.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Royal Bank of Canada grew its stake in shares of SPDR SSgA Income Allocation ETF by 13.6% during the 4th 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 during the period. Wells Fargo & Company MN grew its holdings in shares of SPDR SSgA Income Allocation ETF by 76.0% in the 4th quarter. Wells Fargo & Company MN now owns 40,203 shares of the company’s stock worth $1,326,000 after acquiring an additional 17,362 shares during the period. LPL Financial LLC increased its position 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 valued at $2,112,000 after buying an additional 18,523 shares in the last quarter. Ameritas Advisory Services LLC boosted its position in shares of SPDR SSgA Income Allocation ETF by 1,405.6% in the 4th quarter. Ameritas Advisory Services LLC now owns 13,174 shares of the company’s stock worth $435,000 after buying an additional 12,299 shares in the last quarter. Finally, Manske Wealth Management boosted its position in shares of SPDR SSgA Income Allocation ETF by 10.5% in the 4th quarter. Manske Wealth Management now owns 90,606 shares of the company’s stock worth $2,989,000 after buying an additional 8,618 shares in the last quarter.

SPDR SSgA Income Allocation ETF Stock Performance

SPDR SSgA Income Allocation ETF stock traded up $0.07 during trading hours on Monday, reaching $33.18. 12,658 shares of the stock were exchanged, compared to its average volume of 13,483. The stock has a market cap of $70.01 million, a P/E ratio of 20.24 and a beta of 0.54. SPDR SSgA Income Allocation ETF has a 52-week low of $29.92 and a 52-week high of $35.01. The firm’s 50 day moving average is $34.15 and its 200 day moving average is $33.59.

About SPDR SSgA Income Allocation ETF

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.