Driehaus Capital Management LLC Sells 500,000 Shares of Ares Acquisition Corporation II $AACT

Key Points

• Driehaus Capital Management LLC has reduced its stake in Ares Acquisition Corporation II (NYSE:AACT) by 66.7%, holding 250,000 shares after selling 500,000 shares in the first quarter.
• Institutional investors including Westchester Capital Management and Mizuho Securities have increased their stakes, with Mizuho growing by 867.2% in the same quarter.
• Ares Acquisition Corporation II's stock opened at $11.42, with a 12-month low of $10.75 and a high of $11.62, reflecting stable performance in the market.

Driehaus Capital Management LLC reduced its position in shares of Ares Acquisition Corporation II (NYSE:AACT - Free Report) by 66.7% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 250,000 shares of the company's stock after selling 500,000 shares during the period. Driehaus Capital Management LLC owned about 0.40% of Ares Acquisition Corporation II worth $2,788,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. FNY Investment Advisers LLC boosted its stake in Ares Acquisition Corporation II by 10.4% in the 1st quarter. FNY Investment Advisers LLC now owns 111,638 shares of the company's stock valued at $1,244,000 after purchasing an additional 10,538 shares during the period. Virtu Financial LLC increased its holdings 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 worth $581,000 after purchasing an additional 29,368 shares during the period. D. E. Shaw & Co. Inc. grew its position in Ares Acquisition Corporation II by 2.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company's stock worth $27,176,000 after buying an additional 61,500 shares in the last quarter. Jane Street Group LLC bought a new position in Ares Acquisition Corporation II during the 4th quarter worth $883,000. Finally, Bulldog Investors LLP raised its holdings in Ares Acquisition Corporation II by 54.9% in the 4th quarter. Bulldog Investors LLP now owns 523,243 shares of the company's stock valued at $5,745,000 after acquiring an additional 185,556 shares in the last quarter. 72.95% of the stock is currently owned by institutional investors and hedge funds.

Ares Acquisition Corporation II Stock Performance

Shares of NYSE AACT traded up $0.01 during trading hours on Thursday, hitting $11.42. 511,251 shares of the stock were exchanged, compared to its average volume of 555,005. The company's fifty day simple moving average is $11.38 and its two-hundred day simple moving average is $11.28. Ares Acquisition Corporation II has a 1-year low of $10.76 and a 1-year high of $11.62.

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.