Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase – Time to Buy?

Ares Acquisition Co. II (NYSE:AACT) shares saw an uptick in trading volume on Wednesday . 501,654 shares traded hands during mid-day trading, an increase of 352% from the previous session’s volume of 111,046 shares.The stock last traded at $11.06 and had previously closed at $11.05.

Ares Acquisition Co. II Price Performance

The stock’s 50 day simple moving average is $10.99 and its two-hundred day simple moving average is $10.88.

Hedge Funds Weigh In On Ares Acquisition Co. II

Institutional investors have recently modified their holdings of the stock. Virtu Financial LLC raised its stake in shares of Ares Acquisition Co. II by 4.2% in the fourth quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock worth $249,000 after acquiring an additional 914 shares during the last quarter. Jane Street Group LLC bought a new position in shares of Ares Acquisition Co. II in the fourth quarter worth about $883,000. FNY Investment Advisers LLC bought a new position in shares of Ares Acquisition Co. II in the fourth quarter worth about $1,110,000. Mizuho Securities USA LLC bought a new position in shares of Ares Acquisition Co. II in the fourth quarter worth about $3,534,000. Finally, Decagon Asset Management LLP bought a new position in shares of Ares Acquisition Co. II in the fourth quarter worth about $4,089,000. 72.95% of the stock is owned by institutional investors.

Ares Acquisition Co. II Company Profile

Ares Acquisition Corp. II is a blank check company which engages in effecting a merger, share exchange, asset acquisition, share purchase, and reorganization or similar business combination. The company was founded on March 15, 2021 and is headquartered in New York, NY.