Ares Acquisition Corporation II (NYSE:AACT) Sees Large Decline in Short Interest

Ares Acquisition Corporation II (NYSE:AACT - Get Free Report) saw a large decrease in short interest in the month of May. As of May 31st, there was short interest totalling 45,200 shares, a decrease of 46.5% from the May 15th total of 84,500 shares. Based on an average daily volume of 1,010,000 shares, the days-to-cover ratio is presently 0.0 days. Approximately 0.1% of the shares of the company are sold short.

Hedge Funds Weigh In On Ares Acquisition Corporation II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Toronto Dominion Bank acquired a new stake in Ares Acquisition Corporation II during the fourth quarter worth about $21,519,000. Jane Street Group LLC acquired a new position in Ares Acquisition Corporation II during the fourth quarter valued at approximately $883,000. Wolverine Asset Management LLC lifted its stake in Ares Acquisition Corporation II by 17.7% during the fourth quarter. Wolverine Asset Management LLC now owns 808,594 shares of the company's stock worth $8,878,000 after purchasing an additional 121,655 shares during the last quarter. Decagon Asset Management LLP bought a new position in shares of Ares Acquisition Corporation II in the 4th quarter valued at $4,089,000. Finally, Mizuho Securities USA LLC acquired a new position in shares of Ares Acquisition Corporation II during the 4th quarter worth $3,534,000. 72.95% of the stock is owned by institutional investors and hedge funds.

Ares Acquisition Corporation II Stock Performance

Shares of NYSE AACT traded down $0.02 during mid-day trading on Wednesday, reaching $11.30. 474,776 shares of the company were exchanged, compared to its average volume of 409,020. Ares Acquisition Corporation II has a twelve month low of $10.65 and a twelve month high of $11.62. The company's 50-day simple moving average is $11.29 and its 200-day simple moving average is $11.13.

Ares Acquisition Corporation II Company Profile

Ares Acquisition Corp. II is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 15, 2021 and is headquartered in New York, NY.