Ares Acquisition Co. II (NYSE:AACT) Sees Unusually-High Trading Volume – What’s Next?

Shares of Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Tuesday . Approximately 502,652 shares traded hands during mid-day trading, an increase of 136% from the previous session’s volume of 213,204 shares.The stock last traded at $10.87 and had previously closed at $10.86.

Ares Acquisition Co. II Trading Up 0.1 %

The stock’s 50-day simple moving average is $10.80 and its 200-day simple moving average is $10.71.

Hedge Funds Weigh In On Ares Acquisition Co. II

Hedge funds have recently added to or reduced their stakes in the stock. Berkley W R Corp grew its holdings in shares of 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 in the last quarter. Driehaus Capital Management LLC bought a new position in Ares Acquisition Co. II in the 2nd quarter valued at about $5,335,000. Mizuho Securities USA LLC acquired a new position in shares of Ares Acquisition Co. II in the 1st quarter valued at approximately $3,679,000. Wolverine Asset Management LLC lifted its holdings in shares of Ares Acquisition Co. II by 150,674.7% during the 2nd quarter. Wolverine Asset Management LLC now owns 125,143 shares of the company’s stock worth $1,335,000 after acquiring an additional 125,060 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of Ares Acquisition Co. II by 7.6% during the 2nd 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. Institutional investors own 72.95% of the company’s stock.

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.