Ares Acquisition Co. II (NYSE:AACT) Hits New 12-Month High – Here’s Why

Ares Acquisition Co. II (NYSE:AACT) hit a new 52-week high on Monday . The company traded as high as $11.20 and last traded at $11.19, with a volume of 18187 shares changing hands. The stock had previously closed at $11.19.

Ares Acquisition Co. II Stock Performance

The stock has a fifty day moving average of $11.06 and a two-hundred day moving average of $10.94.

Hedge Funds Weigh In On Ares Acquisition Co. II

Large investors have recently modified their holdings of the company. Virtu Financial LLC raised its holdings in shares of Ares Acquisition Co. II by 4.2% during the 4th quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after buying an additional 914 shares in the last quarter. Jane Street Group LLC purchased a new position in Ares Acquisition Co. II in the 4th quarter worth approximately $883,000. FNY Investment Advisers LLC purchased a new position in Ares Acquisition Co. II in the 4th quarter worth approximately $1,110,000. Mizuho Securities USA LLC purchased a new position in Ares Acquisition Co. II in the 4th quarter worth approximately $3,534,000. Finally, Decagon Asset Management LLP purchased a new position in Ares Acquisition Co. II in the 4th quarter worth approximately $4,089,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

About Ares Acquisition Co. II

Ares Acquisition Corp. II is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 15, 2021 and is headquartered in New York, NY.