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

Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Thursday . 719,150 shares traded hands during mid-day trading, an increase of 187% from the previous session’s volume of 250,699 shares.The stock last traded at $11.20 and had previously closed at $11.17.

Ares Acquisition Co. II Stock Performance

The firm has a 50 day simple moving average of $11.06 and a 200-day simple moving average of $10.94.

Institutional Trading of Ares Acquisition Co. II

Several institutional investors and hedge funds have recently bought and sold shares of AACT. Virtu Financial LLC boosted 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 worth $249,000 after buying an additional 914 shares during the period. Jane Street Group LLC acquired a new position in shares of Ares Acquisition Co. II in the 4th quarter worth approximately $883,000. FNY Investment Advisers LLC purchased a new position in shares of Ares Acquisition Co. II during the 4th quarter worth approximately $1,110,000. Mizuho Securities USA LLC acquired a new stake in Ares Acquisition Co. II in the 4th quarter valued at approximately $3,534,000. Finally, Decagon Asset Management LLP purchased a new stake in Ares Acquisition Co. II in the fourth quarter valued at approximately $4,089,000. 72.95% of the stock is currently owned by hedge funds and other institutional investors.

Ares Acquisition Co. II Company Profile

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.