Ares Acquisition Corporation II (NYSE:AACT) Sees Strong Trading Volume - Should You Buy?

Key Points

• Ares Acquisition Corporation II experienced a significant increase in trading volume, with approximately 1,960,508 shares traded, marking a 224% rise from the previous session.
• Institutional investors hold a substantial 72.95% of the company’s stock, with notable increases in holdings from firms like Westchester Capital Management and Mizuho Securities.
• The stock currently trades at $11.43, showing stability above its 50-day and 200-day moving averages of $11.35 and $11.21, respectively.

Ares Acquisition Corporation II (NYSE:AACT - Get Free Report) shares saw unusually-strong trading volume on Wednesday . Approximately 1,960,508 shares changed hands during mid-day trading, an increase of 224% from the previous session's volume of 604,994 shares.The stock last traded at $11.43 and had previously closed at $11.42.

Ares Acquisition Corporation II Price Performance

The business's 50 day moving average is $11.36 and its 200 day moving average is $11.22.

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 company. Sage Advisors LLC bought a new position in shares of Ares Acquisition Corporation II during the 2nd quarter valued at $177,000. Virtu Financial LLC increased its holdings in shares of Ares Acquisition Corporation II by 129.3% during the 1st quarter. Virtu Financial LLC now owns 52,078 shares of the company's stock worth $581,000 after purchasing an additional 29,368 shares during the period. Jane Street Group LLC bought a new stake in Ares Acquisition Corporation II in the fourth quarter valued at about $883,000. FNY Investment Advisers LLC increased its holdings in shares of Ares Acquisition Corporation II by 10.4% during the first quarter. FNY Investment Advisers LLC now owns 111,638 shares of the company's stock worth $1,244,000 after buying an additional 10,538 shares in the last quarter. Finally, Deltec Asset Management LLC increased its holdings in shares of Ares Acquisition Corporation II by 50.0% during the second quarter. Deltec Asset Management LLC now owns 150,000 shares of the company's stock worth $1,700,000 after buying an additional 50,000 shares in the last quarter. Institutional investors and hedge funds own 72.95% of the company's stock.

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.