Ares Acquisition Corporation II (NYSE:AACT) Sees Large Volume Increase - Here's What Happened

Key Points

• Ares Acquisition Corporation II (NYSE:AACT) experienced a significant trading volume increase of 206% on Tuesday, with approximately 1.69 million shares traded, reflecting heightened investor interest.
• Institutional investors and hedge funds control 72.95% of Ares Acquisition's stock, with notable new stakes being acquired in the second quarter by firms such as Rangeley Capital and Sage Advisors.
• The stock's current trading price is $11.42, closely aligning with its 50-day and 200-day moving averages of $11.38 and $11.28 respectively.

Ares Acquisition Corporation II (NYSE:AACT - Get Free Report) saw an uptick in trading volume on Tuesday . 1,693,668 shares were traded during trading, an increase of 206% from the previous session's volume of 554,085 shares.The stock last traded at $11.42 and had previously closed at $11.41.

Ares Acquisition Corporation II Stock Up 0.0%

The business's 50 day simple moving average is $11.39 and its 200 day simple moving average is $11.28.

Institutional Investors Weigh In On Ares Acquisition Corporation II

Several large investors have recently modified their holdings of the stock. Nikko Asset Management Americas Inc. acquired a new stake in Ares Acquisition Corporation II in the second quarter valued at $3,681,000. Rangeley Capital LLC purchased a new stake in shares of Ares Acquisition Corporation II in the second quarter valued at about $135,000. Militia Capital Partners LP acquired a new stake in Ares Acquisition Corporation II during the 2nd quarter valued at $466,000. Berkley W R Corp increased its position in Ares Acquisition Corporation II by 452.8% during the 2nd quarter. Berkley W R Corp now owns 3,513,649 shares of the company's stock worth $39,810,000 after purchasing an additional 2,878,097 shares in the last quarter. Finally, Soros Fund Management LLC purchased a new stake in shares of Ares Acquisition Corporation II during the second quarter worth about $10,197,000. Hedge funds and other institutional investors own 72.95% of the company's stock.

About Ares Acquisition Corporation II

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.