Ares Acquisition Co. II (NYSE:AACT) Reaches New 1-Year High – Here’s Why

Ares Acquisition Co. II (NYSE:AACT) shares reached a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.00 and last traded at $11.00, with a volume of 133 shares. The stock had previously closed at $10.97.

Ares Acquisition Co. II Stock Performance

The stock’s fifty day simple moving average is $10.90 and its 200-day simple moving average is $10.80.

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. Berkley W R Corp grew its holdings in shares of Ares Acquisition Co. II by 627.4% in the second quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock valued at $16,101,000 after acquiring an additional 1,301,567 shares in the last quarter. Wolverine Asset Management LLC boosted its position in 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 worth $7,440,000 after purchasing an additional 561,796 shares during the last quarter. Driehaus Capital Management LLC bought a new position in Ares Acquisition Co. II in the 2nd quarter valued at $5,335,000. Finally, Virtu Financial LLC grew its stake in Ares Acquisition Co. II by 7.6% in the 2nd quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock valued at $1,261,000 after purchasing an additional 8,324 shares during the period. Hedge funds and other institutional investors own 72.95% of the company’s stock.

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.