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

Shares of Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Thursday . 719,150 shares changed hands during trading, an increase of 187% from the previous session’s volume of 250,699 shares.The stock last traded at $11.20 and had previously closed at $11.17.

Ares Acquisition Co. II Stock Up 0.1 %

The company’s 50 day moving average price is $11.05 and its 200-day moving average price is $10.94.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors and hedge funds have recently modified their holdings of the company. Virtu Financial LLC grew its position in Ares Acquisition Co. II by 4.2% during the fourth quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after acquiring an additional 914 shares during the last quarter. Jane Street Group LLC purchased a new position in Ares Acquisition Co. II during the fourth quarter valued at $883,000. FNY Investment Advisers LLC bought a new position in Ares Acquisition Co. II in the 4th quarter worth about $1,110,000. Mizuho Securities USA LLC purchased a new stake in shares of Ares Acquisition Co. II during the 4th quarter valued at about $3,534,000. Finally, Decagon Asset Management LLP purchased a new stake in shares of Ares Acquisition Co. II during the 4th quarter valued at about $4,089,000. 72.95% of the stock is owned by hedge funds and other institutional investors.

About Ares Acquisition Co. II

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.