Mullen Automotive (NASDAQ:MULN) Trading Down 4.3% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 4.3% during trading on Thursday . The stock traded as low as $0.39 and last traded at $0.40. 1,175,437 shares traded hands during mid-day trading, a decline of 88% from the average session volume of 10,038,606 shares. The stock had previously closed at $0.41.

Mullen Automotive Stock Performance

The firm has a 50-day simple moving average of $1.47 and a two-hundred day simple moving average of $28.92.

Institutional Trading of Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC purchased a new position in shares of Mullen Automotive, Inc. (NASDAQ:MULN) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned approximately 0.34% of Mullen Automotive at the end of the most recent quarter. Institutional investors and hedge funds own 11.71% of the company’s stock.

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.