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

Ares Acquisition Co. II (NYSE:AACT) hit 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 trading hands. The stock had previously closed at $10.97.

Ares Acquisition Co. II Price Performance

The firm has a 50 day moving average of $10.92 and a 200-day moving average of $10.82.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Berkley W R Corp boosted its position in 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 in the last quarter. 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 valued at $7,440,000 after buying an additional 561,796 shares during the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of Ares Acquisition Co. II during the second quarter valued at about $5,335,000. Finally, Virtu Financial LLC boosted its holdings in shares of Ares Acquisition Co. II by 7.6% in the 2nd 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 in the last quarter. Hedge funds and other institutional investors 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.