Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase

Shares of Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Tuesday . Approximately 744,788 shares were traded during trading, an increase of 243% from the previous session’s volume of 217,007 shares.The stock last traded at $10.66 and had previously closed at $10.65.

Ares Acquisition Co. II Price Performance

The business has a 50-day simple moving average of $10.64 and a 200 day simple moving average of $10.55.

Hedge Funds Weigh In On Ares Acquisition Co. II

A number of hedge funds have recently modified their holdings of the company. Firethorn Wealth Partners LLC boosted its holdings in Ares Acquisition Co. II by 51.5% in the 4th quarter. Firethorn Wealth Partners LLC now owns 19,728 shares of the company’s stock worth $206,000 after buying an additional 6,708 shares during the period. Condor Capital Management grew its position in shares of Ares Acquisition Co. II by 30.2% during the first quarter. Condor Capital Management now owns 53,057 shares of the company’s stock worth $561,000 after purchasing an additional 12,307 shares in the last quarter. Virtu Financial LLC bought a new stake in Ares Acquisition Co. II during the 1st quarter valued at approximately $1,161,000. Berkley W R Corp lifted its holdings in Ares Acquisition Co. II by 165.5% in the 1st quarter. Berkley W R Corp now owns 207,456 shares of the company’s stock worth $2,193,000 after purchasing an additional 129,324 shares in the last quarter. Finally, Bulldog Investors LLP lifted its holdings in Ares Acquisition Co. II by 55.6% in the 4th quarter. Bulldog Investors LLP now owns 426,605 shares of the company’s stock worth $4,454,000 after purchasing an additional 152,411 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors.

About Ares Acquisition Co. II

Ares Acquisition Corporation II does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Ares Acquisition Corporation II was incorporated in 2021 and is based in New York, New York.