Goldman Sachs Stake Boosted by Waverly Advisors Amid Recent M&A Activity

Waverly Advisors LLC significantly increased its stake in The Goldman Sachs Group, Inc. (NYSE:GS) by 123.1% in the second quarter.

The fund now owns 50,896 shares of the investment management company's stock, valued at $51,475,000 according to its most recent SEC filing.

This is not an isolated incident as several other hedge funds have also added to or reduced their stakes in GS. For example, Audent Global Asset Management LLC grew its stake by 10.1% during the fourth quarter, while Wealthfront Advisers LLC acquired a new position valued at about $53,720,000.

The Goldman Sachs Group has seen increased activity recently, with the bank agreeing to pay $2.25 billion for the firm behind a popular Bitcoin income ETF and opening a new engineering office in Bellevue, Washington focused on artificial intelligence and cloud transformation.