Ares Acquisition Co. II (NYSE:AACT) Hits New 1-Year High – Should You Buy?

Ares Acquisition Co. II (NYSE:AACT)’s stock price reached a new 52-week high during trading on Tuesday . The stock traded as high as $11.00 and last traded at $11.00, with a volume of 133 shares traded. The stock had previously closed at $10.97.

Ares Acquisition Co. II Price Performance

The company’s 50-day moving average is $10.90 and its two-hundred day moving average is $10.80.

Hedge Funds Weigh In On Ares Acquisition Co. II

Several institutional investors and hedge funds have recently bought and sold shares of the company. Berkley W R Corp lifted its holdings 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 worth $16,101,000 after buying an additional 1,301,567 shares in the last quarter. Wolverine Asset Management LLC grew its stake in 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 buying an additional 561,796 shares in the last quarter. Driehaus Capital Management LLC bought a new position in shares of Ares Acquisition Co. II in the 2nd quarter worth $5,335,000. Finally, Virtu Financial LLC grew its position in Ares Acquisition Co. II by 7.6% in the second quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock worth $1,261,000 after acquiring an additional 8,324 shares in the last quarter. 72.95% of the stock is owned by institutional investors.

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.