High Net Worth Advisory Group LLC recently reduced its position in SPDR Gold Shares by more than a third during the second quarter. The move, which involved selling over 2,000 shares of the popular gold-backed exchange-traded fund, reflects shifting strategies in one investment firm’s portfolio.

Gold notched a record high on Wednesday but dipped by 0.2% the following day, settling at $3,636.90 a troy ounce. Even so, it remained the fourth-highest close for the front-month contract, underscoring continued investor interest in the metal’s performance.

The Manufacturers Life Insurance Company recently cut its stake in Alamos Gold Inc. by over fourteen percent, selling more than 290,000 shares. The 13F filing submitted to the SEC reflects a shift in the institutional investor’s holdings, valued at nearly $46.25 million.