Financial services firm B. Riley Wealth Advisors Inc. recently significantly adjusted its holdings in Western Digital Co. (NASDAQ: WDC). Details gleaned from a filing with the Securities and Exchange Commission (SEC) reveal that B. Riley Wealth Advisors sold a portion of its WDC shares during the fourth quarter of 2023.
The precise extent of the sale remains undisclosed. However, the SEC filing indicates that B. Riley Wealth Advisors no longer holds a position in Western Digital that surpasses the $5 million reporting threshold mandated by the regulatory body. This implies that the sale reduced the advisor’s holdings below this benchmark.
Western Digital is a prominent player within the data storage industry, specializing in developing and manufacturing hard disk drives and flash memory solutions. The company’s stock price has fluctuated recently, reflecting broader market fluctuations and uncertainties within the technology sector.
The rationale behind B. Riley Wealth Advisors’ decision to decrease its stake in Western Digital is unclear. Several factors may have influenced this move, including:
It is important to note that the SEC filing solely reflects B. Riley Wealth Advisors’ actions and does not necessarily comment on Western Digital’s future performance. Investors should conduct their own comprehensive analysis before making investment decisions about Western Digital or any other stock.
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