Ares Acquisition Co. II (NYSE:AACT) Sees Strong Trading Volume – Should You Buy?

Ares Acquisition Co. II (NYSE:AACT) saw strong trading volume on Monday . 1,901,326 shares were traded during trading, an increase of 528% from the previous session’s volume of 302,873 shares.The stock last traded at $11.19 and had previously closed at $11.18.

Ares Acquisition Co. II Stock Up 0.2 %

The company has a fifty day simple moving average of $11.11 and a 200-day simple moving average of $10.99.

Institutional Investors Weigh In On Ares Acquisition Co. II

Hedge funds and other institutional investors have recently bought and sold shares of the company. D. E. Shaw & Co. Inc. grew its stake in shares of Ares Acquisition Co. II by 2.5% in the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company’s stock valued at $27,176,000 after buying an additional 61,500 shares during the period. Toronto Dominion Bank purchased a new position in Ares Acquisition Co. II in the fourth quarter worth approximately $21,519,000. Berkley W R Corp increased its stake in Ares Acquisition Co. II by 6.6% during the fourth quarter. Berkley W R Corp now owns 1,608,763 shares of the company’s stock worth $17,664,000 after acquiring an additional 99,740 shares during the last quarter. Wolverine Asset Management LLC raised its position in Ares Acquisition Co. II by 17.7% in the fourth quarter. Wolverine Asset Management LLC now owns 808,594 shares of the company’s stock valued at $8,878,000 after purchasing an additional 121,655 shares during the period. Finally, Bulldog Investors LLP lifted its stake in shares of Ares Acquisition Co. II by 54.9% in the 4th quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock valued at $5,745,000 after purchasing an additional 185,556 shares during the last quarter. 72.95% of the stock is currently owned by institutional investors and hedge funds.

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.