Ares Acquisition Co. II (NYSE:AACT) Sees Unusually-High Trading Volume

Ares Acquisition Co. II (NYSE:AACT) shares saw an uptick in trading volume on Wednesday . 502,305 shares changed hands during mid-day trading, an increase of 124% from the previous session’s volume of 224,572 shares.The stock last traded at $10.67 and had previously closed at $10.68.

Ares Acquisition Co. II Price Performance

The business’s 50 day simple moving average is $10.64 and its 200 day simple moving average is $10.56.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Bulldog Investors LLP increased its stake in Ares Acquisition Co. II by 55.6% in the fourth quarter. Bulldog Investors LLP now owns 426,605 shares of the company’s stock valued at $4,454,000 after purchasing an additional 152,411 shares during the period. Cohanzick Management LLC increased its stake in shares of Ares Acquisition Co. II by 133.4% during the fourth quarter. Cohanzick Management LLC now owns 306,200 shares of the company’s stock worth $3,197,000 after acquiring an additional 175,000 shares during the period. Karpus Management Inc. increased its stake in shares of Ares Acquisition Co. II by 58.5% during the fourth quarter. Karpus Management Inc. now owns 2,712,010 shares of the company’s stock worth $28,313,000 after acquiring an additional 1,001,110 shares during the period. Condor Capital Management acquired a new position in shares of Ares Acquisition Co. II during the fourth quarter worth about $425,000. Finally, Firethorn Wealth Partners LLC increased its stake in shares of Ares Acquisition Co. II by 51.5% during the fourth quarter. Firethorn Wealth Partners LLC now owns 19,728 shares of the company’s stock worth $206,000 after acquiring an additional 6,708 shares during the period. 72.95% of the stock is currently owned by institutional investors and hedge funds.

Ares Acquisition Co. II Company Profile

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.