Mullen Automotive (NASDAQ:MULN) Shares Down 4.6% – Here’s What Happened

Shares of Mullen Automotive, Inc. (NASDAQ:MULN) were down 4.6% during trading on Tuesday . The company traded as low as $0.29 and last traded at $0.31. Approximately 5,686,304 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 12,600,461 shares. The stock had previously closed at $0.33.

Mullen Automotive Trading Down 10.2 %

The company has a fifty day moving average price of $1.42 and a two-hundred day moving average price of $24.72.

Institutional Inflows and Outflows

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) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 18,728 shares of the company’s stock, valued at approximately $59,000. Virtu Financial LLC owned about 0.34% of Mullen Automotive at the end of the most recent reporting period. 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.