Fiddich Review Centre
Alternative Investment

Short Interest at Ares Acquisition Co. (NYSE:AAC) Has Increased Significantly

During December, the total number of short positions held in Ares Acquisition Co. (NYSE: AAC) saw a significant increase from the previous month. As of the 15th of December, there were a total of 621,200 shares available for a short sale. This represents a 128.0% increase over the 272,500 shares available for short sale during the previous month. At this time, the short market accounts for trading in 0.6 percent of the total number of shares issued by the company. The current short-interest ratio is 1.1 days, calculated based on an average trading volume of 583,000 shares. The short-interest ratio determined this number.

AAC stock finished the trading day on Thursday for $10.09, up $0.01 from its previous closing price. The number of shares traded by the company was significantly lower than its typical daily volume of 409,089. The price of one share of Ares Acquisition can range anywhere from $9.70 to $10.10 over a year. The company’s simple moving average over the past 50 days comes in at $10.02, and the simple moving average over the past 200 days comes in at $9.93.
Recent months have seen several hedge funds and other institutional investors modify their approach to investing in alternative investment companies (AAC). During the first three months of 2018, Verition Fund Management LLC increased the proportion of Ares Acquisition stock that it held by one-hundredth of one percent. Verition Fund Management LLC has increased the value of its holdings by $4,391,000 by purchasing 4,501 additional shares of the company’s stock since the beginning of this quarter. The total value of its holdings is now $4,391,000. In addition, Cubist Systematic Strategies LLC spent approximately 53 thousand dollars during the second quarter to purchase a new interest in Ares Acquisition. This transaction took place during the second quarter. A new holding investment of $55,000 was made in Ares Acquisition by Condor Capital Management during the second quarter of the fiscal year. During the second quarter of the financial year, Trexquant Investment LP made a new investment in Ares Acquisition for $102,000. During the second quarter, Old Mission Capital LLC established a new investment in Ares Acquisition with a total value of 236,000 dollars. To the tune of 73.36% of the company’s shares, institutional investors and hedge funds hold these shares in their portfolios.
Ares Acquisition Corporation employs a comparatively small number of people across its various departments. It plans to combine operations with one or more companies through a corporate arrangement that is functionally equivalent, such as a merger, stock exchange, asset purchase, stock purchase, reorganization, or another corporate arrangement. The company will not officially begin its operations until the year 2020. The company’s headquarters will be located in New York.

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