Ares Acquisition Co. II (NYSE:AACT) Hits New 1-Year High – Should You Buy?

Ares Acquisition Co. II (NYSE:AACT) shares reached a new 52-week high on Monday . The stock traded as high as $11.07 and last traded at $11.06, with a volume of 116 shares trading hands. The stock had previously closed at $11.06.

Ares Acquisition Co. II Stock Up 0.0 %

The firm’s 50 day simple moving average is $11.00 and its 200 day simple moving average is $10.90.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of hedge funds have recently made changes to their positions in the company. Wolverine Asset Management LLC increased its stake in Ares Acquisition Co. II by 448.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock worth $7,440,000 after acquiring an additional 561,796 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of Ares Acquisition Co. II in the fourth quarter valued at $1,110,000. Decagon Asset Management LLP bought a new stake in Ares Acquisition Co. II in the fourth quarter worth $4,089,000. Virtu Financial LLC raised its stake in Ares Acquisition Co. II by 4.2% during the fourth quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after purchasing an additional 914 shares in the last quarter. Finally, Mizuho Securities USA LLC bought a new position in Ares Acquisition Co. II during the fourth quarter valued at $3,534,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

About Ares Acquisition Co. II

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.