Envestnet Asset Management Inc. Invests $1.79 Million in SPDR SSgA Income Allocation ETF (NYSEARCA:INKM)

Envestnet Asset Management Inc. purchased a new position in shares of SPDR SSgA Income Allocation ETF (NYSEARCA:INKM) in the first quarter, HoldingsChannel reports. The fund purchased 56,325 shares of the company’s stock, valued at approximately $1,791,000.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Financial Inc. purchased a new stake in SPDR SSgA Income Allocation ETF in the fourth quarter valued at approximately $912,000. Wells Fargo & Company MN grew its holdings in 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 valued at $1,374,000 after purchasing an additional 22,765 shares during the period. Comerica Bank purchased a new stake in SPDR SSgA Income Allocation ETF in the fourth quarter valued at approximately $106,000. Finally, Jane Street Group LLC purchased a new stake in SPDR SSgA Income Allocation ETF in the fourth quarter valued at approximately $314,000.

SPDR SSgA Income Allocation ETF Stock Performance

SPDR SSgA Income Allocation ETF stock opened at $32.46 on Thursday. SPDR SSgA Income Allocation ETF has a 1 year low of $29.92 and a 1 year high of $33.16. The firm has a 50 day moving average price of $32.31 and a 200 day moving average price of $31.94. The company has a market cap of $67.19 million, a price-to-earnings ratio of 20.24 and a beta of 0.57.

SPDR SSgA Income Allocation ETF 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.