Ares Acquisition Corporation II (NYSE:AACT) Sees Unusually-High Trading Volume - Still a Buy?

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) shares saw unusually-high trading volume on Tuesday . Approximately 1,693,668 shares changed hands during mid-day 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 firm has a fifty day moving average price of $11.39 and a 200 day moving average price of $11.28.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Toronto Dominion Bank acquired a new position in Ares Acquisition Corporation II during the 4th quarter worth $21,519,000. Jane Street Group LLC acquired a new position in Ares Acquisition Corporation II during the 4th quarter worth $883,000. Westchester Capital Management LLC lifted its holdings in Ares Acquisition Corporation II by 27.5% during the 1st quarter. Westchester Capital Management LLC now owns 3,951,420 shares of the company's stock worth $44,058,000 after buying an additional 852,733 shares in the last quarter. Virtu Financial LLC lifted its holdings in 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 buying an additional 29,368 shares in the last quarter. Finally, Mizuho Securities USA LLC raised its position in shares of Ares Acquisition Corporation II by 867.2% during the 1st quarter. Mizuho Securities USA LLC now owns 3,133,249 shares of the company's stock valued at $34,842,000 after acquiring an additional 2,809,299 shares during the last quarter. Institutional investors and hedge funds 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.