Ares Acquisition Co. II (NYSE:AACT) Sets New 52-Week High – Here’s Why

Ares Acquisition Co. II (NYSE:AACT) hit a new 52-week high on Monday . The company traded as high as $11.12 and last traded at $11.07, with a volume of 216 shares changing hands. The stock had previously closed at $11.07.

Ares Acquisition Co. II Price Performance

The company has a fifty day simple moving average of $11.01 and a two-hundred day simple moving average of $10.91.

Institutional Trading of Ares Acquisition Co. II

Several institutional investors and hedge funds have recently made changes to their positions in AACT. 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 valued at $7,440,000 after purchasing an additional 561,796 shares during the period. FNY Investment Advisers LLC bought a new position in shares of Ares Acquisition Co. II during the fourth quarter valued at approximately $1,110,000. Decagon Asset Management LLP bought a new position in shares of Ares Acquisition Co. II during the fourth quarter valued at approximately $4,089,000. Virtu Financial LLC increased its holdings 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 valued at $249,000 after buying an additional 914 shares during the period. Finally, Mizuho Securities USA LLC bought a new position in Ares Acquisition Co. II in the fourth quarter worth approximately $3,534,000. 72.95% of the stock is currently owned by institutional investors.

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.