Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase – Still a Buy?

Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Wednesday . Approximately 1,063,826 shares traded hands during mid-day 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 Up 0.0 %

The firm has a 50 day moving average price of $11.03 and a 200 day moving average price of $10.92.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of AACT. Virtu Financial LLC boosted its holdings in Ares Acquisition Co. II by 4.2% in the 4th quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock worth $249,000 after buying an additional 914 shares during the period. Jane Street Group LLC bought a new position in Ares Acquisition Co. II in the 4th quarter worth $883,000. FNY Investment Advisers LLC bought a new position in Ares Acquisition Co. II in the 4th quarter worth $1,110,000. Mizuho Securities USA LLC bought a new position in Ares Acquisition Co. II in the 4th quarter worth $3,534,000. Finally, Decagon Asset Management LLP bought a new position in Ares Acquisition Co. II in the 4th quarter worth $4,089,000. Institutional investors 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.