Ares Acquisition Co. II (NYSE:AACT) Sees Strong Trading Volume

Ares Acquisition Co. II (NYSE:AACT) saw unusually-high trading volume on Thursday . Approximately 551,557 shares were traded during mid-day 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 Price Performance

The company has a 50-day moving average price of $10.55 and a 200-day moving average price of $10.44.

Institutional Trading of Ares Acquisition Co. II

Several institutional investors and hedge funds have recently made changes to their positions in AACT. JPMorgan Chase & Co. purchased a new stake in shares of Ares Acquisition Co. II in the second quarter valued at $1,645,000. Karpus Management Inc. lifted its position in shares of Ares Acquisition Co. II by 111.0% in the third quarter. Karpus Management Inc. now owns 1,710,900 shares of the company’s stock valued at $17,571,000 after acquiring an additional 900,175 shares in the last quarter. Firethorn Wealth Partners LLC lifted its position in shares of Ares Acquisition Co. II by 51.5% in the fourth quarter. Firethorn Wealth Partners LLC now owns 19,728 shares of the company’s stock valued at $206,000 after acquiring an additional 6,708 shares in the last quarter. Condor Capital Management purchased a new stake in shares of Ares Acquisition Co. II in the fourth quarter valued at $425,000. Finally, Cohanzick Management LLC lifted its position in shares of Ares Acquisition Co. II by 133.4% in the fourth quarter. Cohanzick Management LLC now owns 306,200 shares of the company’s stock valued at $3,197,000 after acquiring an additional 175,000 shares in the last quarter. 72.95% of the stock is currently 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.