Ares Acquisition Co. II (NYSE:AACT) Hits New 12-Month High – Here’s Why

Ares Acquisition Co. II (NYSE:AACT) shares hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.07 and last traded at $11.06, with a volume of 116 shares traded. The stock had previously closed at $11.06.

Ares Acquisition Co. II Stock Performance

The firm’s 50 day simple moving average is $11.00 and its 200 day simple moving average is $10.90.

Institutional Trading of Ares Acquisition Co. II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC boosted its position in shares of Ares Acquisition Co. II by 4.2% during the fourth quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after buying an additional 914 shares during the period. Jane Street Group LLC bought a new stake in shares of Ares Acquisition Co. II during the 4th quarter worth approximately $883,000. FNY Investment Advisers LLC purchased a new position in Ares Acquisition Co. II during the 4th quarter valued at $1,110,000. Mizuho Securities USA LLC bought a new position in Ares Acquisition Co. II in the 4th quarter valued at $3,534,000. Finally, Decagon Asset Management LLP bought a new position in Ares Acquisition Co. II in the 4th quarter valued at $4,089,000. 72.95% of the stock is owned by hedge funds and other 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.