Ares Acquisition Corporation II (NYSE:AACT) Trading 0.1% Higher - What's Next?

Key Points

• Ares Acquisition Corporation II's share price increased by 0.1% to close at $11.41, although trading volume declined by 16% from the average daily volume.
• Institutional investors hold 72.95% of AACT's stock, with several hedge funds increasing their stakes, including Berkley W R Corp's 6.6% boost in holdings.
• Ares Acquisition Corporation II is a blank check company focused on facilitating mergers and acquisitions, founded on March 15, 2021.

Shares of Ares Acquisition Corporation II (NYSE:AACT - Get Free Report) shot up 0.1% during trading on Friday . The company traded as high as $11.43 and last traded at $11.41. 268,421 shares changed hands during mid-day trading, a decline of 16% from the average session volume of 318,455 shares. The stock had previously closed at $11.40.

Ares Acquisition Corporation II Trading Down 0.1%

The firm's 50-day moving average is $11.37 and its 200-day moving average is $11.22.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Sage Advisors LLC bought a new position in Ares Acquisition Corporation II during the 2nd quarter worth about $177,000. Virtu Financial LLC lifted its position in shares of Ares Acquisition Corporation II by 129.3% during 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 last quarter. Jane Street Group LLC purchased a new stake in shares of Ares Acquisition Corporation II during the fourth quarter valued at about $883,000. FNY Investment Advisers LLC lifted its position 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 valued at $1,244,000 after buying an additional 10,538 shares during the last quarter. Finally, Deltec Asset Management LLC lifted its position 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 valued at $1,700,000 after buying an additional 50,000 shares during the last quarter. 72.95% of the stock is currently owned by institutional investors.

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.