Mullen Automotive (NASDAQ:MULN) Shares Down 9.2% – Here’s Why

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) traded down 9.2% during mid-day trading on Tuesday . The company traded as low as $0.42 and last traded at $0.46. 3,800,085 shares traded hands during trading, a decline of 71% from the average session volume of 13,279,410 shares. The stock had previously closed at $0.51.

Mullen Automotive Trading Down 9.8 %

The company has a 50-day moving average price of $1.81 and a two-hundred day moving average price of $40.95.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new position in Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to its most recent filing with the SEC. The firm acquired 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive as of its most recent filing with the SEC. 11.71% of the stock is owned by institutional investors.

Mullen Automotive Company Profile

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.