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

Ares Acquisition Co. II (NYSE:AACT) shares saw unusually-strong 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 moving average is $10.92 and its 200 day moving average is $10.82.

Institutional Investors Weigh In On Ares Acquisition Co. II

Several institutional investors have recently bought and sold shares of the company. Virtu Financial LLC lifted its position in shares of Ares Acquisition Co. II by 7.6% in the second quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock valued at $1,261,000 after acquiring an additional 8,324 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. Wolverine Asset Management LLC lifted its holdings 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 valued at $7,440,000 after purchasing an additional 561,796 shares in the last quarter. Finally, Berkley W R Corp boosted its stake in Ares Acquisition Co. II by 627.4% during the 2nd 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 during the last quarter. 72.95% of the stock is currently owned by institutional investors and hedge funds.

About Ares Acquisition Co. II

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.