SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) Stock Short Interest Climbs 784.9%

SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) saw a significant growth in short interest in the month of October. As of October 30th, there was short interest totaling 14,035 shares, a growth of 784.9% from the October 15th total of 1,586 shares. Based on an average daily volume of 24,931 shares, the days-to-cover ratio is currently 0.6 days. Approximately 0.6% of the shares of the company are sold short.

SPDR SSgA Income Allocation ETF Trading Down 0.5%

NYSEARCA INKM opened at $33.92 on Friday. SPDR SSgA Income Allocation ETF has a 1-year low of $32.71 and a 1-year high of $35.01. The company has a 50 day moving average of $33.78 and a 200-day moving average of $34.24. The company has a market cap of $75.64 million, a price-to-earnings ratio of 20.24 and a beta of 0.51.

Hedge Funds Weigh In On SPDR SSgA Income Allocation ETF

A number of hedge funds have recently added to or reduced their stakes in the stock. Elevation Capital Advisory LLC bought a new stake in shares of SPDR SSgA Income Allocation ETF during the 3rd quarter valued at $1,156,000. Ameritas Advisory Services LLC grew its holdings in shares of 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 worth $643,000 after purchasing an additional 3,513 shares in the last quarter. Finally, Retireful LLC acquired a new stake in shares of SPDR SSgA Income Allocation ETF during the 2nd quarter worth $309,000.

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.