Ares Acquisition Co. II (NYSE:AACT) Sets New 12-Month High – Time to Buy?

Ares Acquisition Co. II (NYSE:AACT)’s share price reached a new 52-week high on Tuesday . The company traded as high as $11.00 and last traded at $11.00, with a volume of 108 shares. The stock had previously closed at $10.97.

Ares Acquisition Co. II Price Performance

The stock’s fifty day moving average is $10.92 and its 200 day moving average is $10.82.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of AACT. Virtu Financial LLC grew its stake in shares of Ares Acquisition Co. II by 7.6% during the second quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock valued at $1,261,000 after buying an additional 8,324 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in Ares Acquisition Co. II in the second quarter worth $5,335,000. Wolverine Asset Management LLC lifted its position in shares of Ares Acquisition Co. II by 448.9% during the third quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock worth $7,440,000 after purchasing an additional 561,796 shares during the last quarter. Finally, Berkley W R Corp boosted its stake in shares of Ares Acquisition Co. II by 627.4% during the second quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock valued at $16,101,000 after purchasing an additional 1,301,567 shares during the period. 72.95% of the stock is owned by hedge funds and other institutional investors.

Ares Acquisition Co. II Company Profile

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.