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Susquehanna Advisors Group buys 7.5% stake in Silvergate, following Citadel Securities

Quick Take

  • Susquehanna Advisors Group took a 7.5% stake in Silvergate.
  • The market maker owns more than 2.36 million shares in the crypto-friendly bank, worth over $35 million.
  • Citadel Securities revealed a 5.5% stake in the beleaguered bank earlier in the day. 

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.