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

Ares Acquisition Co. II (NYSE:AACT) shares saw unusually-high trading volume on Monday . Approximately 72,422 shares traded hands during mid-day trading, an increase of 133% from the previous session’s volume of 31,057 shares.The stock last traded at $10.98 and had previously closed at $10.97.

Ares Acquisition Co. II Price Performance

The stock has a 50 day moving average of $10.92 and a 200-day moving average of $10.82.

Hedge Funds Weigh In On Ares Acquisition Co. II

Institutional investors have recently bought and sold shares of the business. Berkley W R Corp boosted its stake 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 worth $16,101,000 after buying an additional 1,301,567 shares during the last quarter. Wolverine Asset Management LLC boosted its position in Ares Acquisition Co. II by 448.9% in the 3rd 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 in the last quarter. Driehaus Capital Management LLC purchased a new stake in Ares Acquisition Co. II in the 2nd quarter worth approximately $5,335,000. Finally, Virtu Financial LLC increased its holdings in shares of Ares Acquisition Co. II by 7.6% during 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 in the last quarter. 72.95% of the stock is owned by hedge funds and other institutional investors.

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.