Susquehanna Advisors Group reported a 7.5% stake in crypto-friendly bank Silvergate Capital.
The Pennsylvania-based finance firm bought over 2.36 million shares in Silvegrate, a filing showed. Shares in the bank are trading higher today. SI soared 7% at the open after a buoyant pre-market session, driven higher following reports that Citadel Securities had taken a 5.5% stake in the bank.
Ken Griffin’s Citadel Securities now owns over 1.7 million shares in the bank, worth over $25 million based on the price at close on Monday. The market maker’s stake was revealed through a filing with the SEC today. BlackRock increased its stake in the bank to 7.2% from 5.9% on Jan. 31.
SI is one of the most shorted stocks on Wall Street at present, having been the most shorted on Jan. 31.
© 2023 The Block Crypto, Inc. All Rights Reserved. This article is provided for informational purposes only. It is not offered or intended to be used as legal, tax, investment, financial, or other advice.
Source: https://www.theblock.co/post/211577/susquehanna-advisors-group-buys-7-5-stake-in-silvergate-following-citadel-securities?utm_source=rss&utm_medium=rss