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

Ares Acquisition Co. II (NYSE:AACT) shares saw strong trading volume on Thursday . 100,797 shares were traded during trading, a decline of 19% from the previous session’s volume of 124,345 shares.The stock last traded at $11.08 and had previously closed at $11.08.

Ares Acquisition Co. II Stock Performance

The company has a 50 day simple moving average of $11.02 and a 200 day simple moving average of $10.91.

Institutional Investors Weigh In On Ares Acquisition Co. II

Several institutional investors and hedge funds have recently added to or reduced their stakes in AACT. Toronto Dominion Bank acquired a new stake in shares of Ares Acquisition Co. II in the fourth quarter valued at about $21,519,000. Wolverine Asset Management LLC grew its stake in shares of Ares Acquisition Co. II by 448.9% in the third quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock valued at $7,440,000 after buying an additional 561,796 shares in the last quarter. Decagon Asset Management LLP acquired a new stake in shares of Ares Acquisition Co. II in the fourth quarter valued at about $4,089,000. Mizuho Securities USA LLC acquired a new stake in shares of Ares Acquisition Co. II in the fourth quarter valued at about $3,534,000. Finally, Bulldog Investors LLP grew its stake in shares of Ares Acquisition Co. II by 54.9% in the fourth quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock valued at $5,745,000 after buying an additional 185,556 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors and hedge funds.

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.