Mullen Automotive (NASDAQ:MULN) Shares Down 0.7% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN)’s stock price traded down 0.7% during mid-day trading on Monday . The stock traded as low as $0.45 and last traded at $0.48. 4,158,194 shares were traded during trading, a decline of 41% from the average session volume of 7,059,010 shares. The stock had previously closed at $0.48.

Mullen Automotive Stock Performance

The firm has a 50 day moving average of $1.70 and a 200-day moving average of $34.24.

Institutional Investors Weigh In On Mullen Automotive

A hedge fund recently bought a new stake in Mullen Automotive stock. Virtu Financial LLC acquired a new stake in shares of Mullen Automotive, Inc. (NASDAQ:MULN) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (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 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.