Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase – Here’s What Happened

Shares of Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Monday . 72,422 shares were traded during trading, an increase of 133% from the previous session’s volume of 31,057 shares.The stock last traded at $10.98 and had previously closed at $10.97.

Ares Acquisition Co. II Stock Performance

The company has a fifty day moving average of $10.92 and a two-hundred day moving average of $10.82.

Institutional Trading of Ares Acquisition Co. II

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC increased its stake in Ares Acquisition Co. II by 7.6% in the second quarter. Virtu Financial LLC now owns 118,148 shares of the company’s stock worth $1,261,000 after purchasing an additional 8,324 shares during the period. Berkley W R Corp boosted its stake in Ares Acquisition Co. II by 627.4% in the 2nd quarter. Berkley W R Corp now owns 1,509,023 shares of the company’s stock worth $16,101,000 after purchasing an additional 1,301,567 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in Ares Acquisition Co. II during the 2nd quarter valued at approximately $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 worth $7,440,000 after buying an additional 561,796 shares during the last quarter. 72.95% of the stock is owned by hedge funds and other 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.