Ares Acquisition Co. II (NYSE:AACT) Sets New 1-Year High – Time to Buy?

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

Ares Acquisition Co. II Trading Up 0.3 %

The stock’s 50-day moving average is $10.92 and its 200-day moving average is $10.82.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors have recently modified their holdings of AACT. Virtu Financial LLC boosted its stake in Ares Acquisition Co. II by 7.6% during the second quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock worth $1,261,000 after acquiring an additional 8,324 shares in the last quarter. Berkley W R Corp raised its holdings in shares of Ares Acquisition Co. II by 627.4% in 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 last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Ares Acquisition Co. II in the second quarter valued at about $5,335,000. Finally, Wolverine Asset Management LLC raised its holdings in shares of Ares Acquisition Co. II by 448.9% in the third quarter. Wolverine Asset Management LLC now owns 686,939 shares of the company’s stock valued at $7,440,000 after purchasing an additional 561,796 shares during the last quarter. 72.95% of the stock is owned by institutional investors.

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.