Ares Acquisition (NYSE:AAC) Hits New 1-Year High at $10.73

Shares of Ares Acquisition Co. (NYSE:AAC) hit a new 52-week high on Monday . The company traded as high as $10.73 and last traded at $10.73, with a volume of 1127 shares trading hands. The stock had previously closed at $10.71.

Ares Acquisition Trading Up 0.2 %

The business has a fifty day moving average price of $10.64 and a two-hundred day moving average price of $10.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Capricorn Fund Managers Ltd purchased a new position in shares of Ares Acquisition during the first quarter valued at $413,000. Levin Capital Strategies L.P. acquired a new stake in Ares Acquisition during the first quarter valued at $1,269,000. Dark Forest Capital Management LP acquired a new stake in Ares Acquisition during the fourth quarter valued at $592,000. Picton Mahoney Asset Management acquired a new stake in Ares Acquisition during the first quarter valued at $6,451,000. Finally, RFG Advisory LLC acquired a new stake in Ares Acquisition during the second quarter valued at $706,000. Hedge funds and other institutional investors own 63.07% of the company’s stock.

Ares Acquisition Company Profile

Ares Acquisition Corporation does not have significant operations. The company intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. Ares Acquisition Corporation was incorporated in 2020 and is based in New York, New York.