Envestnet Asset Management Inc. Buys New Stake in SPDR SSgA Income Allocation ETF (NYSEARCA:INKM)

Envestnet Asset Management Inc. bought a new stake in shares of SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 56,325 shares of the company’s stock, valued at approximately $1,791,000. Envestnet Asset Management Inc. owned 2.47% of SPDR SSgA Income Allocation ETF at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Raymond James Financial Inc. acquired a new position in shares of SPDR SSgA Income Allocation ETF in the fourth quarter worth about $912,000. Wells Fargo & Company MN raised its position in shares of SPDR SSgA Income Allocation ETF by 107.6% in the fourth quarter. Wells Fargo & Company MN now owns 43,919 shares of the company’s stock worth $1,374,000 after acquiring an additional 22,765 shares during the period. Comerica Bank acquired a new position in shares of SPDR SSgA Income Allocation ETF in the fourth quarter worth about $106,000. Finally, Jane Street Group LLC acquired a new position in shares of SPDR SSgA Income Allocation ETF in the fourth quarter worth about $314,000.

SPDR SSgA Income Allocation ETF Stock Down 0.5%

INKM stock opened at $32.46 on Thursday. The stock has a market capitalization of $67.19 million, a P/E ratio of 20.24 and a beta of 0.57. The firm has a 50-day simple moving average of $32.31 and a 200-day simple moving average of $31.94. SPDR SSgA Income Allocation ETF has a 52 week low of $29.92 and a 52 week high of $33.16.

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.