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

Shares of Ares Acquisition Co. II (NYSE:AACT) saw unusually-strong trading volume on Wednesday . Approximately 501,654 shares were traded during trading, an increase of 352% from the previous session’s volume of 111,046 shares.The stock last traded at $11.06 and had previously closed at $11.05.

Ares Acquisition Co. II Stock Performance

The stock’s 50 day moving average is $10.99 and its two-hundred day moving average is $10.88.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors and hedge funds have recently modified their holdings of AACT. Toronto Dominion Bank bought a new stake in shares of Ares Acquisition Co. II during the fourth quarter worth approximately $21,519,000. Wolverine Asset Management LLC grew its holdings in Ares Acquisition Co. II by 448.9% during the third quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock valued at $7,440,000 after purchasing an additional 561,796 shares during the period. Decagon Asset Management LLP acquired a new position in Ares Acquisition Co. II during the fourth quarter valued at approximately $4,089,000. Mizuho Securities USA LLC acquired a new position in Ares Acquisition Co. II during the fourth quarter valued at approximately $3,534,000. Finally, Bulldog Investors LLP grew its holdings in Ares Acquisition Co. II by 54.9% during the fourth quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock valued at $5,745,000 after purchasing an additional 185,556 shares during the period. 72.95% of the stock is owned by institutional investors.

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.