Investment Insights: Providence Wealth Advisors, LLC Q3 2022 vs. Q4 2022 Holdings Comparison
Ava Hoppe | 23 April, 2023
Providence Wealth Advisors, LLC recently released their Q3 2022 vs. Q4 2022 13F Holdings Comparison, revealing how their investment decisions have changed over the past quarter. In this blog post, we will explore the changes in holdings of the fund, analyze certain holdings, and overall gain a deeper understanding of the investment strategies of Providence Wealth Advisors.
Introduction:
Providence Wealth Advisors, LLC is an independent wealth management firm located in New Jersey. They focus on developing customized strategies that cater to their clients' specific financial situations, goals, and values. The firm's investment philosophy is rooted in a long-term approach that delivers value over time. Their most recent holdings report provides valuable insights into their investment strategies and offers a glimpse into important trends in the broader market.
Main Body:
The Q3 2022 vs. Q4 2022 13F Holdings Comparison reveals that Providence Wealth Advisors has significantly increased the number of shares held in VANGUARD HIGH DIVIDEND YIELD ETF (VYM) by 1,976 shares, making up for a 3.6% increase in value. SCHWAB US DIVIDEND EQUITY ETF (SCHD) also saw an increase of 1,546 shares, equating to a 3.9% increase in value. These holdings demonstrate the firm's focus on dividend-paying stocks as a means of providing consistent returns for their clients.
Alongside these gains, there are holdings that have seen losses. For example, Providence Wealth Advisors decreased their holdings in Apple Inc (AAPL) by 1,261 shares, equating to a 9.7% loss in value. Chevron Corp (CVX) is another example of a holding where the firm has seen decreased returns, with a loss of 272 shares, resulting in a 10.3% drop in value. While these losses are not necessarily ideal, it highlights that the firm is willing to make necessary adjustments in their portfolios to maximize returns in the long run.
One stand-out holding is the increase in holdings for the ABRDN PHYSICAL PREC MTL BSKT SHS ETF (GLTR), where the firm increased their holdings by a whopping 1,200 shares, making up for a staggering 36.2% increase in value. Gold has traditionally been utilized as a hedge against inflation, political uncertainty, and market volatility, and it seems that Providence Wealth Advisors shares this belief, given this increased position in a gold ETF.
Finally, another holding worth noting is that of Uber Technologies Inc (UBER), which the firm increased its holdings for by 2,680 shares. However, this investment decision did not work out as expected, with the stock seeing a 5.7% drop in value. This highlights the unpredictable nature of the stock market and how not all investments lead to positive returns.
Conclusion:
In conclusion, Providence Wealth Advisors' Q3 2022 vs. Q4 2022 13F Holdings Comparison has provided valuable insights into their investment philosophy and strategies. The increase in holdings for dividend-paying stocks and adjustments made to underperforming stocks illustrate the firm's commitment to providing long-term value to their clients. It is clear that the firm is not afraid to make investment decisions based on broader market trends, such as their increased position in gold. While not all investment decisions lead to positive gains, their willingness to adapt to prevailing circumstances is an encouraging sign. Overall, this analysis of the holdings report indicates that Providence Wealth Advisors continues to prioritize their client's best interests in their investment decisions.
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