Ares Acquisition Co. II (NYSE:AACT) Hits New 52-Week High – Still a Buy?

Ares Acquisition Co. II (NYSE:AACT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.07 and last traded at $11.06, with a volume of 116 shares trading hands. The stock had previously closed at $11.06.

Ares Acquisition Co. II Stock Down 0.0 %

The firm has a 50 day moving average of $11.00 and a 200-day moving average of $10.89.

Institutional Inflows and Outflows

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

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.