First Merchants Corp Invests $290,000 in SPDR Gold Shares (NYSEARCA:GLD)

First Merchants Corp purchased a new position in shares of SPDR Gold Shares (NYSEARCA:GLD) during the fourth quarter, HoldingsChannel.com reports. The institutional investor purchased 1,197 shares of the exchange traded fund’s stock, valued at approximately $290,000.

A number of other institutional investors and hedge funds have also made changes to their positions in GLD. International Assets Investment Management LLC grew its stake in shares of SPDR Gold Shares by 21,571.1% during the 3rd quarter. International Assets Investment Management LLC now owns 3,024,639 shares of the exchange traded fund’s stock worth $735,169,000 after purchasing an additional 3,010,682 shares during the period. Strategic Financial Concepts LLC grew its stake in shares of SPDR Gold Shares by 24,600.9% during the 4th quarter. Strategic Financial Concepts LLC now owns 608,876 shares of the exchange traded fund’s stock worth $147,427,000 after purchasing an additional 606,411 shares during the period. Diversify Advisory Services LLC grew its stake in shares of SPDR Gold Shares by 446.0% during the 4th quarter. Diversify Advisory Services LLC now owns 239,355 shares of the exchange traded fund’s stock worth $59,410,000 after purchasing an additional 195,520 shares during the period. Sumitomo Mitsui Trust Group Inc. grew its stake in shares of SPDR Gold Shares by 47.5% during the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 454,153 shares of the exchange traded fund’s stock worth $110,386,000 after purchasing an additional 146,271 shares during the period. Finally, Banco Santander S.A. grew its stake in shares of SPDR Gold Shares by 245.1% during the 3rd quarter. Banco Santander S.A. now owns 160,721 shares of the exchange traded fund’s stock worth $39,065,000 after purchasing an additional 114,151 shares during the period. 42.19% of the stock is owned by institutional investors and hedge funds.

SPDR Gold Shares Stock Down 1.5 %

NYSEARCA:GLD opened at $266.29 on Friday. SPDR Gold Shares has a fifty-two week low of $184.84 and a fifty-two week high of $270.39. The firm’s fifty day simple moving average is $250.28 and its 200-day simple moving average is $243.26.

SPDR Gold Shares Profile

SPDR Gold Trust (the Trust) is an investment trust. The investment objective of the Trust is for the Shares to reflect the performance of the price of gold bullion, less the Trust’s expenses. The Trust’s business activity is the investment of gold. The Trust creates and redeems Shares from time to time, but in one or more Baskets (a Basket equals a block of 100,000 Shares).