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

Shares of Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Wednesday . 501,654 shares traded hands during trading, an increase of 352% from the previous session’s volume of 111,046 shares.The stock last traded at $11.06 and had previously closed at $11.05.

Ares Acquisition Co. II Stock Performance

The firm’s 50-day simple moving average is $11.00 and its 200 day simple moving average is $10.89.

Institutional Investors Weigh In On Ares Acquisition Co. II

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Toronto Dominion Bank bought a new stake in Ares Acquisition Co. II during the 4th quarter worth about $21,519,000. D. E. Shaw & Co. Inc. lifted its position in Ares Acquisition Co. II by 2.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company’s stock worth $27,176,000 after buying an additional 61,500 shares in the last quarter. Bulldog Investors LLP lifted its position in Ares Acquisition Co. II by 54.9% during the 4th quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock worth $5,745,000 after buying an additional 185,556 shares in the last quarter. Jane Street Group LLC bought a new stake in Ares Acquisition Co. II during the 4th quarter worth about $883,000. Finally, Berkley W R Corp lifted its position in Ares Acquisition Co. II by 6.6% during the 4th quarter. Berkley W R Corp now owns 1,608,763 shares of the company’s stock worth $17,664,000 after buying an additional 99,740 shares in the last quarter. 72.95% of the stock is owned by institutional investors.

Ares Acquisition Co. II Company Profile

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.