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

Shares of Ares Acquisition Co. II (NYSE:AACT) saw strong trading volume on Thursday . 602,291 shares changed hands during trading, an increase of 450% from the previous session’s volume of 109,497 shares.The stock last traded at $11.07 and had previously closed at $11.04.

Ares Acquisition Co. II Stock Performance

The stock’s 50 day moving average is $11.00 and its 200-day moving average is $10.90.

Hedge Funds Weigh In On Ares Acquisition Co. II

Several hedge funds have recently modified their holdings of AACT. Toronto Dominion Bank purchased a new position in Ares Acquisition Co. II during the fourth quarter worth approximately $21,519,000. D. E. Shaw & Co. Inc. boosted its stake in shares of Ares Acquisition Co. II by 2.5% in 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 buying an additional 61,500 shares during the period. Bulldog Investors LLP boosted its holdings in shares of Ares Acquisition Co. II by 54.9% in the 4th 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. Jane Street Group LLC acquired a new stake in Ares Acquisition Co. II during the 4th quarter worth $883,000. Finally, Berkley W R Corp raised 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 during 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 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.