Ares Acquisition Co. II (NYSE:AACT) Hits New 12-Month High – Here’s Why

Ares Acquisition Co. II (NYSE:AACT)’s share price hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.20 and last traded at $11.19, with a volume of 18187 shares changing hands. The stock had previously closed at $11.19.

Ares Acquisition Co. II Price Performance

The company’s fifty day moving average price is $11.06 and its two-hundred day moving average price is $10.94.

Institutional Investors Weigh In On Ares Acquisition Co. II

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. D. E. Shaw & Co. Inc. increased its position in shares of Ares Acquisition Co. II by 2.5% during the 4th quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company’s stock valued at $27,176,000 after purchasing an additional 61,500 shares during the last quarter. Toronto Dominion Bank bought a new position in shares of Ares Acquisition Co. II during the 4th quarter worth $21,519,000. Berkley W R Corp grew its stake in shares of Ares Acquisition Co. II by 6.6% during the 4th quarter. Berkley W R Corp now owns 1,608,763 shares of the company’s stock worth $17,664,000 after acquiring an additional 99,740 shares during the period. Wolverine Asset Management LLC grew its stake in shares of Ares Acquisition Co. II by 17.7% during the 4th quarter. Wolverine Asset Management LLC now owns 808,594 shares of the company’s stock worth $8,878,000 after acquiring an additional 121,655 shares during the period. Finally, Bulldog Investors LLP boosted its stake in Ares Acquisition Co. II by 54.9% in the 4th quarter. Bulldog Investors LLP now owns 523,243 shares of the company’s stock worth $5,745,000 after purchasing an additional 185,556 shares during the period. 72.95% of the stock is owned by hedge funds and other institutional investors.

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.