Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase – Here’s Why

Ares Acquisition Co. II (NYSE:AACT) shares saw strong trading volume on Monday . Approximately 1,206,154 shares were traded during mid-day trading, an increase of 361% from the previous session’s volume of 261,549 shares.The stock last traded at $11.16 and had previously closed at $11.17.

Ares Acquisition Co. II Stock Performance

The company has a 50 day simple moving average of $11.09 and a 200 day simple moving average of $10.97.

Hedge Funds Weigh In On Ares Acquisition Co. II

Several institutional investors and hedge funds have recently added to or reduced their stakes in AACT. FNY Investment Advisers LLC purchased a new position in Ares Acquisition Co. II in the fourth quarter worth $1,110,000. Wolverine Asset Management LLC grew its position in Ares Acquisition Co. II by 17.7% during the fourth quarter. Wolverine Asset Management LLC now owns 808,594 shares of the company’s stock worth $8,878,000 after buying an additional 121,655 shares during the period. Decagon Asset Management LLP purchased a new position in Ares Acquisition Co. II in the fourth quarter valued at about $4,089,000. Virtu Financial LLC lifted its position in shares of Ares Acquisition Co. II by 4.2% during the 4th quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after acquiring an additional 914 shares during the period. Finally, Mizuho Securities USA LLC acquired a new stake in shares of Ares Acquisition Co. II in the 4th quarter worth approximately $3,534,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

Ares Acquisition Co. II Company Profile

Ares Acquisition Corp. II is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 15, 2021 and is headquartered in New York, NY.