Mullen Automotive (NASDAQ:MULN) Trading 0.8% Higher – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s share price rose 0.8% during trading on Thursday . The company traded as high as $1.30 and last traded at $1.21. Approximately 5,833,516 shares traded hands during mid-day trading, an increase of 360% from the average daily volume of 1,267,425 shares. The stock had previously closed at $1.20.

Mullen Automotive Stock Performance

The company has a 50 day moving average price of $1.98 and a two-hundred day moving average price of $54.76.

Hedge Funds Weigh In On Mullen Automotive

An institutional investor recently bought a new position in Mullen Automotive stock. Virtu Financial LLC bought a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive as of its most recent SEC filing. Institutional investors and hedge funds 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.