Ares Acquisition Co. (NYSE:AAC – Get Rating) was the target of a large decline in short interest in the month of April. As of April 15th, there was short interest totalling 58,600 shares, a decline of 63.4% from the March 31st total of 160,100 shares. Based on an average daily volume of 309,400 shares, the short-interest ratio is currently 0.2 days. Approximately 0.1% of the company’s shares are short sold.
Ares Acquisition stock traded up $0.01 during trading hours on Friday, reaching $9.85. The company had a trading volume of 401 shares, compared to its average volume of 296,480. The company has a 50-day moving average price of $9.79 and a 200 day moving average price of $9.78. Ares Acquisition has a 12-month low of $9.66 and a 12-month high of $9.90.
Institutional investors have recently made changes to their positions in the business. Hsbc Holdings PLC purchased a new position in Ares Acquisition in the 3rd quarter worth approximately $4,870,000. Qube Research & Technologies Ltd increased its stake in shares of Ares Acquisition by 58.1% during the fourth quarter. Qube Research & Technologies Ltd now owns 102,761 shares of the company’s stock valued at $1,001,000 after buying an additional 37,755 shares during the period. Evolution Capital Management LLC purchased a new position in shares of Ares Acquisition during the fourth quarter valued at approximately $250,000. Clear Harbor Asset Management LLC increased its stake in shares of Ares Acquisition by 27.7% during the fourth quarter. Clear Harbor Asset Management LLC now owns 34,618 shares of the company’s stock valued at $337,000 after buying an additional 7,500 shares during the period. Finally, Weiss Asset Management LP increased its stake in shares of Ares Acquisition by 168.1% during the third quarter. Weiss Asset Management LP now owns 2,299,395 shares of the company’s stock valued at $22,396,000 after buying an additional 1,441,643 shares during the period. 53.71% of the stock is currently owned by institutional investors and hedge funds.
Ares Acquisition Corporation does not have significant operations. It intends to effect a merger, share exchange, asset acquisition, share purchase, reorganization, or similar business combination with one or more businesses. The company was incorporated in 2020 and is based in New York, New York.
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