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

by · The Markets Daily

Ares Acquisition Co. II (NYSE:AACT – Get Free Report) shares saw unusually-high trading volume on Friday . Approximately 1,167,704 shares traded hands during trading, an increase of 458% from the previous session’s volume of 209,381 shares.The stock last traded at $10.88 and had previously closed at $10.90.

Ares Acquisition Co. II Stock Performance

The company’s 50-day moving average is $10.83 and its two-hundred day moving average is $10.74.

Institutional Trading of Ares Acquisition Co. II

A number of hedge funds have recently added to or reduced their stakes in the stock. Virtu Financial LLC acquired a new position in shares of Ares Acquisition Co. II in the first quarter valued at approximately $1,161,000. Wolverine Asset Management LLC increased its stake in shares of Ares Acquisition Co. II by 150,674.7% in the second quarter. Wolverine Asset Management LLC now owns 125,143 shares of the company’s stock valued at $1,335,000 after buying an additional 125,060 shares during the period. Berkley W R Corp increased its stake in shares of Ares Acquisition Co. II by 165.5% in the first quarter. Berkley W R Corp now owns 207,456 shares of the company’s stock valued at $2,193,000 after buying an additional 129,324 shares during the period. Finally, Driehaus Capital Management LLC bought a new position in shares of Ares Acquisition Co. II during the second quarter worth about $5,335,000. Institutional investors and hedge funds own 72.95% of the company’s stock.

Ares Acquisition Co. II Company Profile

(Get Free Report)

Ares Acquisition Corporation II does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Ares Acquisition Corporation II was incorporated in 2021 and is based in New York, New York.

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