Mullen Automotive (NASDAQ:MULN) Trading Down 3.3% – Here’s What Happened

Mullen Automotive, Inc. (NASDAQ:MULN) shares were down 3.3% on Monday . The stock traded as low as $2.55 and last traded at $2.60. Approximately 407,184 shares were traded during trading, a decline of 56% from the average daily volume of 932,543 shares. The stock had previously closed at $2.69.

Mullen Automotive Stock Performance

The firm’s 50 day moving average price is $2.73 and its two-hundred day moving average price is $116.43.

Hedge Funds Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC bought a new stake in Mullen Automotive, Inc. (NASDAQ:MULN) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 41,065 shares of the company’s stock, valued at approximately $214,000. Virtu Financial LLC owned approximately 0.63% of Mullen Automotive at the end of the most recent quarter. Institutional investors own 11.71% of the company’s stock.

About Mullen Automotive

Mullen Automotive, Inc, an electric vehicle company, manufactures, sells, and distributes electric vehicles. Its products include passenger electric vehicles and commercial vehicles; and provides solid-state polymer battery technology. The company is headquartered in Brea, California.