Ares Acquisition Co. II (NYSE:AACT) Sees Strong Trading Volume

Shares of Ares Acquisition Co. II (NYSE:AACT) saw strong trading volume on Wednesday . 502,305 shares changed hands during trading, an increase of 124% from the previous session’s volume of 224,572 shares.The stock last traded at $10.67 and had previously closed at $10.68.

Ares Acquisition Co. II Stock Performance

The stock has a fifty day simple moving average of $10.64 and a 200 day simple moving average of $10.56.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors and hedge funds have recently bought and sold shares of AACT. Firethorn Wealth Partners LLC increased its holdings in shares of Ares Acquisition Co. II by 51.5% in the fourth quarter. Firethorn Wealth Partners LLC now owns 19,728 shares of the company’s stock worth $206,000 after purchasing an additional 6,708 shares during the last quarter. Condor Capital Management bought a new stake in shares of Ares Acquisition Co. II in the fourth quarter worth about $425,000. Virtu Financial LLC bought a new stake in shares of Ares Acquisition Co. II in the first quarter worth about $1,161,000. Berkley W R Corp increased its holdings in shares of Ares Acquisition Co. II by 165.5% in the first quarter. Berkley W R Corp now owns 207,456 shares of the company’s stock worth $2,193,000 after purchasing an additional 129,324 shares during the last quarter. Finally, Cohanzick Management LLC increased its holdings in shares of Ares Acquisition Co. II by 133.4% in the fourth quarter. Cohanzick Management LLC now owns 306,200 shares of the company’s stock worth $3,197,000 after purchasing an additional 175,000 shares during the last quarter. 72.95% of the stock is owned by institutional investors.

About Ares Acquisition Co. II

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.