Ares Acquisition Co. II (NYSE:AACT) Reaches New 52-Week High – What’s Next?

Ares Acquisition Co. II (NYSE:AACT)’s share price hit a new 52-week high on Monday . The stock 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 50-day moving average price of $11.07 and a 200-day moving average price of $10.95.

Institutional Trading of Ares Acquisition Co. II

A number of hedge funds have recently made changes to their positions in the stock. D. E. Shaw & Co. Inc. boosted its stake 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 valued at $27,176,000 after acquiring an additional 61,500 shares during the last quarter. Toronto Dominion Bank acquired a new position in Ares Acquisition Co. II in the fourth quarter worth about $21,519,000. Berkley W R Corp increased its holdings in Ares Acquisition Co. II by 6.6% in the fourth quarter. Berkley W R Corp now owns 1,608,763 shares of the company’s stock valued at $17,664,000 after buying an additional 99,740 shares during the last quarter. Wolverine Asset Management LLC increased its holdings in Ares Acquisition Co. II by 17.7% in the fourth quarter. Wolverine Asset Management LLC now owns 808,594 shares of the company’s stock valued at $8,878,000 after buying an additional 121,655 shares during the last quarter. Finally, Bulldog Investors LLP raised its stake in Ares Acquisition Co. II by 54.9% during 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. Institutional investors and hedge funds own 72.95% of the company’s stock.

Ares Acquisition Co. II Company Profile

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.