Ares Acquisition Co. II (NYSE:AACT) Sees Unusually-High Trading Volume – Should You Buy?

Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Wednesday . Approximately 1,063,826 shares traded hands during trading, an increase of 234% from the previous session’s volume of 318,945 shares.The stock last traded at $11.14 and had previously closed at $11.16.

Ares Acquisition Co. II Stock Down 0.2 %

The stock’s fifty day simple moving average is $11.03 and its two-hundred day simple moving average is $10.92.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Toronto Dominion Bank purchased a new position in shares of Ares Acquisition Co. II in the 4th quarter worth about $21,519,000. D. E. Shaw & Co. Inc. increased its position in shares of Ares Acquisition Co. II by 2.5% in the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company’s stock worth $27,176,000 after acquiring an additional 61,500 shares in the last quarter. Bulldog Investors LLP increased its position in shares of Ares Acquisition Co. II by 54.9% in the fourth quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock worth $5,745,000 after acquiring an additional 185,556 shares in the last quarter. Jane Street Group LLC purchased a new position in shares of Ares Acquisition Co. II in the 4th quarter valued at $883,000. Finally, Berkley W R Corp lifted its holdings in shares of 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 valued at $17,664,000 after acquiring an additional 99,740 shares in 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.