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

Posted by Jeff Wilder on Jan 6th, 2025

Ares Acquisition Co. II (NYSE:AACT – Get Free Report) shares saw unusually-high trading volume on Monday . Approximately 72,422 shares were traded during mid-day trading, an increase of 133% from the previous session’s volume of 31,057 shares.The stock last traded at $10.98 and had previously closed at $10.97.

Ares Acquisition Co. II Price Performance

The firm’s fifty day simple moving average is $10.92 and its 200 day simple moving average is $10.82.

Hedge Funds Weigh In On Ares Acquisition Co. II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Virtu Financial LLC raised its position in shares of Ares Acquisition Co. II by 7.6% during the 2nd quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock worth $1,261,000 after purchasing an additional 8,324 shares during the last quarter. Berkley W R Corp increased its position in shares of Ares Acquisition Co. II by 627.4% during the second quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock worth $16,101,000 after purchasing an additional 1,301,567 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Ares Acquisition Co. II in the 2nd quarter valued at $5,335,000. Finally, Wolverine Asset Management LLC boosted its stake in Ares Acquisition Co. II by 448.9% during the 3rd quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock worth $7,440,000 after purchasing an additional 561,796 shares during the last quarter. 72.95% of the stock is owned by hedge funds and other institutional investors.

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.