Ares Acquisition Co. II (NYSE:AACT) Sets New 52-Week High – Still a Buy?

Ares Acquisition Co. II (NYSE:AACT) shares reached a new 52-week high during trading on Tuesday . The company traded as high as $11.02 and last traded at $10.99, with a volume of 105077 shares. The stock had previously closed at $10.98.

Ares Acquisition Co. II Stock Performance

The stock’s 50 day moving average price is $10.94 and its two-hundred day moving average price is $10.84.

Hedge Funds Weigh In On Ares Acquisition Co. II

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. FNY Investment Advisers LLC acquired a new position in Ares Acquisition Co. II during the 4th quarter valued at about $1,110,000. Driehaus Capital Management LLC bought a new stake in shares of Ares Acquisition Co. II during the 2nd quarter worth $5,335,000. Wolverine Asset Management LLC grew its holdings in shares of Ares Acquisition Co. II by 448.9% in the 3rd quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock worth $7,440,000 after acquiring an additional 561,796 shares during the last quarter. Finally, Berkley W R Corp boosted its position in shares of Ares Acquisition Co. II by 627.4% in the 2nd quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock valued at $16,101,000 after purchasing an additional 1,301,567 shares during the period. Hedge funds and other 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.