Ares Acquisition Co. II (NYSE:AACT) Reaches New 1-Year High - Here's Why

Ares Acquisition Co. II (NYSE:AACT - Get Free Report) hit a new 52-week high during mid-day trading on Monday . The stock traded as high as $11.20 and last traded at $11.15, with a volume of 135761 shares changing hands. The stock had previously closed at $11.16.

Ares Acquisition Co. II Stock Performance

The stock's fifty day simple moving average is $11.05 and its 200 day simple moving average is $10.94.

Hedge Funds Weigh In On Ares Acquisition Co. II

A number of institutional investors have recently bought and sold shares of AACT. Toronto Dominion Bank purchased a new stake in Ares Acquisition Co. II in the fourth quarter worth about $21,519,000. Decagon Asset Management LLP bought a new position in shares of Ares Acquisition Co. II during the 4th quarter valued at approximately $4,089,000. Mizuho Securities USA LLC purchased a new stake in Ares Acquisition Co. II in the 4th quarter worth approximately $3,534,000. Bulldog Investors LLP raised its stake in Ares Acquisition Co. II by 54.9% during the 4th quarter. Bulldog Investors LLP now owns 523,243 shares of the company's stock worth $5,745,000 after acquiring an additional 185,556 shares during the period. Finally, Wolverine Asset Management LLC raised its stake in 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. 72.95% of the stock is owned by institutional investors.

About Ares Acquisition Co. II

Ares Acquisition Corp. II is a blank check company which engages in effecting a merger, share exchange, asset acquisition, share purchase, and reorganization or similar business combination. The company was founded on March 15, 2021 and is headquartered in New York, NY.