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

Shares of Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Thursday . 93,402 shares were traded during mid-day trading, an increase of 75% from the previous session’s volume of 53,509 shares.The stock last traded at $10.99 and had previously closed at $11.00.

Ares Acquisition Co. II Stock Performance

The company has a 50 day moving average price of $10.94 and a 200 day moving average price of $10.84.

Institutional Trading of Ares Acquisition Co. II

Several hedge funds and other institutional investors have recently modified their holdings of AACT. FNY Investment Advisers LLC acquired a new stake in Ares Acquisition Co. II during the 4th quarter worth approximately $1,110,000. Wolverine Asset Management LLC increased its position 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 buying an additional 561,796 shares during the period. Driehaus Capital Management LLC acquired a new stake in shares of Ares Acquisition Co. II during the second quarter worth $5,335,000. Finally, Berkley W R Corp boosted its position in shares of Ares Acquisition Co. II by 627.4% in the second quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock valued at $16,101,000 after acquiring an additional 1,301,567 shares during the period. Institutional investors own 72.95% of the company’s stock.

Ares Acquisition Co. II Company Profile

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.