Ares Acquisition Corporation II (NYSE:AACT) Stock Price Up 7.6% - What's Next?

Key Points

• The stock price of Ares Acquisition Corporation II (NYSE:AACT) rose by 7.6%, closing at $9.55 after reaching a high of $9.33.
• Institutional investors now hold 72.95% of AACT's shares, with several purchasing new positions totaling over $1.4 million during the second quarter.
• Ares Acquisition Corporation II is a blank check company focused on pursuing business combinations, having been established on March 15, 2021.

Ares Acquisition Corporation II (NYSE:AACT - )'s stock price was up 7.6% on Wednesday . The company traded as high as $9.33 and last traded at $9.55. Approximately 640,958 shares were traded during mid-day trading, an increase of 13% from the average daily volume of 567,373 shares. The stock had previously closed at $8.88.

Ares Acquisition Corporation II Price Performance

The company has a 50 day simple moving average of $11.35 and a 200-day simple moving average of $11.29.

Institutional Investors Weigh In On Ares Acquisition Corporation II

A number of hedge funds and other institutional investors have recently modified their holdings of AACT. Rangeley Capital LLC bought a new position in Ares Acquisition Corporation II during the 2nd quarter worth approximately $135,000. Sage Advisors LLC purchased a new stake in shares of Ares Acquisition Corporation II during the second quarter valued at approximately $177,000. Militia Capital Partners LP bought a new position in shares of Ares Acquisition Corporation II in the second quarter worth approximately $466,000. StoneX Group Inc. purchased a new position in shares of Ares Acquisition Corporation II in the second quarter worth $566,000. Finally, Virtu Financial LLC raised 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 valued at $581,000 after buying an additional 29,368 shares during the last quarter. 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.

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