I would say feed it in the spring as the new growth flushes. Encouraging soft growth at this time of year is not good.
The yellowing could be the need for a feed or waterlogging in the pot.
Another cause can be aphids. After they have done their damage you usually find last years needles are not staying on the tree, and of course the yellowing can be because of them sucking the sap. You need a lens to see them, not there at this time of year though. Its the green spruce aphid that is the culprit.