Ares Acquisition Co. II (NYSE:AACT) Reaches New 1-Year High – Still a Buy?

Ares Acquisition Co. II (NYSE:AACT) shares hit a new 52-week high during trading on Monday . The company traded as high as $11.27 and last traded at $11.25, with a volume of 436 shares trading hands. The stock had previously closed at $11.26.

Ares Acquisition Co. II Price Performance

The company has a 50 day moving average price of $11.16 and a 200 day moving average price of $11.02.

Institutional Trading of Ares Acquisition Co. II

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Virtu Financial LLC lifted its position in Ares Acquisition Co. II by 4.2% during the 4th quarter. Virtu Financial LLC now owns 22,710 shares of the company’s stock valued at $249,000 after purchasing an additional 914 shares during the period. Jane Street Group LLC acquired a new position in Ares Acquisition Co. II in the fourth quarter valued at approximately $883,000. FNY Investment Advisers LLC acquired a new stake in Ares Acquisition Co. II during the 4th quarter worth $1,110,000. Mizuho Securities USA LLC acquired a new stake in Ares Acquisition Co. II during the 4th quarter worth $3,534,000. Finally, Decagon Asset Management LLP bought a new stake in shares of Ares Acquisition Co. II during the 4th quarter valued at $4,089,000. 72.95% of the stock is currently owned by institutional investors and hedge funds.

About Ares Acquisition Co. II

Ares Acquisition Corp. II is a blank check company. It was formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses. The company was founded on March 15, 2021 and is headquartered in New York, NY.