Ares Acquisition Co. II (NYSE:AACT) Reaches New 52-Week High – What’s Next?

Ares Acquisition Co. II (NYSE:AACT) shares hit a new 52-week high during mid-day trading on Tuesday . The company traded as high as $11.29 and last traded at $11.28, with a volume of 591296 shares trading hands. The stock had previously closed at $11.27.

Ares Acquisition Co. II Stock Performance

The firm has a 50-day simple moving average of $11.20 and a 200 day simple moving average of $11.05.

Institutional Investors Weigh In On Ares Acquisition Co. II

Hedge funds have recently modified their holdings of the stock. Westchester Capital Management LLC grew its position in shares of Ares Acquisition Co. II by 27.5% in the first quarter. Westchester Capital Management LLC now owns 3,951,420 shares of the company’s stock valued at $44,058,000 after purchasing an additional 852,733 shares during the last quarter. Mizuho Securities USA LLC increased its stake in shares of Ares Acquisition Co. II by 867.2% in the first quarter. Mizuho Securities USA LLC now owns 3,133,249 shares of the company’s stock worth $34,842,000 after buying an additional 2,809,299 shares during the last quarter. D. E. Shaw & Co. Inc. lifted its position in shares of Ares Acquisition Co. II by 2.5% during the fourth quarter. D. E. Shaw & Co. Inc. now owns 2,475,000 shares of the company’s stock worth $27,176,000 after purchasing an additional 61,500 shares during the last quarter. Toronto Dominion Bank acquired a new stake in Ares Acquisition Co. II during the fourth quarter worth about $21,519,000. Finally, Berkley W R Corp increased its holdings in shares of Ares Acquisition Co. II by 6.6% in 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. 72.95% of the stock is owned by institutional investors and hedge funds.

Ares Acquisition Co. II Company Profile

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.