Ares Acquisition Co. II (NYSE:AACT) Sees Strong Trading Volume – What’s Next?

Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Wednesday . Approximately 254,105 shares traded hands during trading, an increase of 146% from the previous session’s volume of 103,396 shares.The stock last traded at $11.02 and had previously closed at $11.01.

Ares Acquisition Co. II Price Performance

The stock has a fifty day moving average price of $10.97 and a two-hundred day moving average price of $10.87.

Hedge Funds Weigh In On Ares Acquisition Co. II

An institutional investor recently raised its position in Ares Acquisition Co. II stock. Wolverine Asset Management LLC grew its holdings in Ares Acquisition Co. II (NYSE:AACT) by 448.9% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 686,939 shares of the company’s stock after acquiring an additional 561,796 shares during the period. Wolverine Asset Management LLC owned 1.10% of Ares Acquisition Co. II worth $7,440,000 as of its most recent SEC filing. Hedge funds and other institutional investors own 72.95% of the company’s stock.

About Ares Acquisition Co. II

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.