Ares Acquisition Co. II (NYSE:AACT) Sees Unusually-High Trading Volume – Time to Buy?

Ares Acquisition Co. II (NYSE:AACT) shares saw unusually-strong trading volume on Wednesday . Approximately 254,105 shares changed hands during mid-day trading, an increase of 146% from the previous session’s volume of 103,396 shares.The stock last traded at $11.02 and had previously closed at $11.01.

Ares Acquisition Co. II Stock Performance

The company has a 50 day simple moving average of $10.97 and a 200 day simple moving average of $10.87.

Institutional Investors Weigh In On Ares Acquisition Co. II

An institutional investor recently bought a new position in Ares Acquisition Co. II stock. FNY Investment Advisers LLC acquired a new stake in Ares Acquisition Co. II (NYSE:AACT) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 101,100 shares of the company’s stock, valued at approximately $1,110,000. FNY Investment Advisers LLC owned about 0.16% of Ares Acquisition Co. II at the end of the most recent reporting period. Hedge funds and other institutional investors own 72.95% of the company’s stock.

Ares Acquisition Co. II Company Profile

Ares Acquisition Corp. II is a blank check company which engages in effecting a merger, share exchange, asset acquisition, share purchase, and reorganization or similar business combination. The company was founded on March 15, 2021 and is headquartered in New York, NY.