Ares Acquisition Co. II (NYSE:AACT) Sees Unusually-High Trading Volume

Ares Acquisition Co. II (NYSE:AACT) shares saw unusually-high trading volume on Thursday . Approximately 551,557 shares were traded during trading, an increase of 257% from the previous session’s volume of 154,602 shares.The stock last traded at $10.63 and had previously closed at $10.61.

Ares Acquisition Co. II Stock Up 0.1 %

The business’s 50 day moving average is $10.55 and its 200-day moving average is $10.44.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors have recently added to or reduced their stakes in the stock. Bulldog Investors LLP grew its stake in Ares Acquisition Co. II by 55.6% in the 4th quarter. Bulldog Investors LLP now owns 426,605 shares of the company’s stock valued at $4,454,000 after acquiring an additional 152,411 shares during the period. Karpus Management Inc. grew its stake in Ares Acquisition Co. II by 58.5% in the 4th quarter. Karpus Management Inc. now owns 2,712,010 shares of the company’s stock valued at $28,313,000 after acquiring an additional 1,001,110 shares during the period. Cohanzick Management LLC lifted its holdings in Ares Acquisition Co. II by 133.4% in the 4th quarter. Cohanzick Management LLC now owns 306,200 shares of the company’s stock valued at $3,197,000 after purchasing an additional 175,000 shares in the last quarter. Condor Capital Management purchased a new position in Ares Acquisition Co. II in the 4th quarter valued at $425,000. Finally, Firethorn Wealth Partners LLC lifted its holdings in Ares Acquisition Co. II by 51.5% in the 4th quarter. Firethorn Wealth Partners LLC now owns 19,728 shares of the company’s stock valued at $206,000 after purchasing an additional 6,708 shares in the last quarter. Institutional investors and hedge funds own 72.95% of the company’s stock.

About Ares Acquisition Co. II

Ares Acquisition Corporation II does not have significant operations. It focuses on effecting a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Ares Acquisition Corporation II was incorporated in 2021 and is based in New York, New York.