GS Stake Reduced by Gabelli Funds Amid Regulatory Concerns

According to recent SEC filings, Gabelli Funds LLC reduced its stake in The Goldman Sachs Group Inc. (NYSE:GS) by 10.2% in the second quarter. The fund sold off 4,550 shares during this period, leaving it with a total of 39,960 GS shares. As of the end of the quarter, these holdings were valued at approximately $40.41 million.

The reduction in Gabelli Funds' stake is not an isolated incident, as other hedge funds and institutional investors have also adjusted their positions in The Goldman Sachs Group over the same period. Audent Global Asset Management LLC increased its GS shares by 10.1% during the fourth quarter, while Wealthfront Advisers LLC acquired a new position worth around $53.72 million. Nomura Asset Management Co. Ltd. grew its stake by 2.6%, and Global Retirement Partners LLC boosted its holdings by 35.0%.

These changes in ownership come as The Goldman Sachs Group is set to report its quarterly earnings on July 14th. While the company has beaten analyst expectations with a reported $20.98 EPS, investors are still cautious about the firm's exposure to potential risks, including regulatory scrutiny and market volatility.