Ares Acquisition Co. II (NYSE:AACT) Hits New 1-Year High – Still a Buy?

Ares Acquisition Co. II (NYSE:AACT) hit a new 52-week high during mid-day trading on Monday . The company traded as high as $11.20 and last traded at $11.15, with a volume of 135761 shares traded. The stock had previously closed at $11.16.

Ares Acquisition Co. II Stock Performance

The stock has a 50-day moving average price of $11.05 and a 200-day moving average price of $10.94.

Institutional Trading of Ares Acquisition Co. II

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