Ares Acquisition Corporation II (NYSE:AACT) Trading Down 5.2% - What's Next?

Key Points

• Ares Acquisition Corporation II (NYSE:AACT) experienced a significant stock decline of 5.2%, trading as low as $11.36 before settling at $10.81 during Friday's session.
• Trading volume for AACT dropped drastically, with just 28,324 shares exchanged, a 95% decrease from its average session volume of 562,489 shares.
• Institutional investors hold a substantial portion, owning 72.95% of Ares Acquisition Corporation II's stock, with several hedge funds recently adjusting their positions.

Ares Acquisition Corporation II (NYSE:AACT - Get Free Report)'s stock price traded down 5.2% during mid-day trading on Friday . The stock traded as low as $11.36 and last traded at $10.81. 28,324 shares changed hands during trading, a decline of 95% from the average session volume of 562,489 shares. The stock had previously closed at $11.40.

Ares Acquisition Corporation II Trading Up 2.1%

The firm's fifty day moving average price is $11.40 and its 200-day moving average price is $11.31.

Institutional Trading of Ares Acquisition Corporation II

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. FNY Investment Advisers LLC grew its stake in 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 during the last quarter. Rangeley Capital LLC acquired a new position in shares of Ares Acquisition Corporation II during the second quarter worth approximately $135,000. Sage Advisors LLC acquired a new position in Ares Acquisition Corporation II in the second quarter valued at approximately $177,000. Virtu Financial LLC lifted its holdings in Ares Acquisition Corporation II by 129.3% in the first quarter. Virtu Financial LLC now owns 52,078 shares of the company's stock valued at $581,000 after buying an additional 29,368 shares during the period. Finally, Militia Capital Partners LP acquired a new position in Ares Acquisition Corporation II in the second quarter valued at approximately $466,000. Institutional investors 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.