Ares Acquisition Co. II (NYSE:AACT) Hits New 52-Week High – Here’s What Happened

Ares Acquisition Co. II (NYSE:AACT)’s share price reached a new 52-week high during mid-day trading on Monday . The company traded as high as $11.04 and last traded at $11.02, with a volume of 22097 shares trading hands. The stock had previously closed at $11.01.

Ares Acquisition Co. II Price Performance

The company’s fifty day moving average is $10.95 and its two-hundred day moving average is $10.85.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in AACT. FNY Investment Advisers LLC acquired a new stake in Ares Acquisition Co. II during the 4th quarter worth $1,110,000. Driehaus Capital Management LLC acquired a new position in Ares Acquisition Co. II in the 2nd quarter valued at $5,335,000. Finally, Wolverine Asset Management LLC grew its stake in shares of Ares Acquisition Co. II by 448.9% during 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 during the period. 72.95% of the stock is owned by institutional investors and hedge funds.

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.