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

Ares Acquisition Co. II (NYSE:AACT)’s share price hit a new 52-week high on Monday . The company traded as high as $11.20 and last traded at $11.15, with a volume of 135761 shares changing hands. The stock had previously closed at $11.16.

Ares Acquisition Co. II Price Performance

The stock has a fifty day moving average of $11.05 and a two-hundred day moving average of $10.94.

Institutional Inflows and Outflows

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

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.