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

Ares Acquisition Co. II (NYSE:AACT) saw an uptick in trading volume on Thursday . 551,557 shares changed hands 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 Performance

The company has a 50-day simple moving average of $10.56 and a 200-day simple moving average of $10.44.

Hedge Funds Weigh In On Ares Acquisition Co. II

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Karpus Management Inc. increased its position in Ares Acquisition Co. II by 111.0% during the 3rd quarter. Karpus Management Inc. now owns 1,710,900 shares of the company’s stock worth $17,571,000 after purchasing an additional 900,175 shares during the period. Firethorn Wealth Partners LLC grew its holdings in shares of 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 worth $206,000 after acquiring an additional 6,708 shares during the period. JPMorgan Chase & Co. acquired a new stake in shares of Ares Acquisition Co. II in the 2nd quarter worth approximately $1,645,000. Bulldog Investors LLP grew its holdings in shares of Ares Acquisition Co. II by 55.6% in the 4th quarter. Bulldog Investors LLP now owns 426,605 shares of the company’s stock worth $4,454,000 after acquiring an additional 152,411 shares during the period. Finally, Cohanzick Management LLC grew its holdings in shares of Ares Acquisition Co. II by 133.4% in the 4th quarter. Cohanzick Management LLC now owns 306,200 shares of the company’s stock worth $3,197,000 after acquiring an additional 175,000 shares during the period. 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.