Ares Acquisition Co. II (NYSE:AACT) Sees Large Volume Increase

Shares of Ares Acquisition Co. II (NYSE:AACT) saw unusually-high trading volume on Monday . Approximately 305,925 shares were traded during trading, an increase of 46% from the previous session’s volume of 209,972 shares.The stock last traded at $10.75 and had previously closed at $10.75.

Ares Acquisition Co. II Price Performance

The company has a fifty day moving average of $10.71 and a two-hundred day moving average of $10.63.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Bulldog Investors LLP grew its position in shares of Ares Acquisition Co. II by 55.6% during the 4th quarter. Bulldog Investors LLP now owns 426,605 shares of the company’s stock worth $4,454,000 after buying an additional 152,411 shares during the period. Virtu Financial LLC acquired a new position in shares of Ares Acquisition Co. II in the first quarter valued at approximately $1,161,000. Cohanzick Management LLC increased its position in shares of Ares Acquisition Co. II by 133.4% during the fourth 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 in the last quarter. Condor Capital Management boosted its stake in Ares Acquisition Co. II by 30.2% in the 1st quarter. Condor Capital Management now owns 53,057 shares of the company’s stock worth $561,000 after purchasing an additional 12,307 shares during the period. Finally, Karpus Management Inc. raised its stake in shares of Ares Acquisition Co. II by 58.5% in the 4th quarter. Karpus Management Inc. now owns 2,712,010 shares of the company’s stock valued at $28,313,000 after purchasing an additional 1,001,110 shares during the period. 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.