Gracie's time with Toronto came to an end after being traded to the Ottawa Senators for Hec Kilrea before the start of the 1933–34 season. Ottawa in turn, immediately dealt him the same day to the Boston Bruins for Percy Galbraith, Bud Cook and Teddy Saunders.
Gracie's tenure with Toronto concluded when he was exchanged for Hec Kilrea before the 1933–34 season began. Ottawa then promptly traded him to Boston Bruins in a similar manner, receiving Percy Galbraith, Bud Cook, and Teddy Saunders as part of the deal.