Mullen Automotive (NASDAQ:MULN) Shares Up 8% – Here’s Why

Mullen Automotive, Inc. (NASDAQ:MULN) was up 8% on Friday . The stock traded as high as $0.45 and last traded at $0.44. Approximately 3,092,833 shares traded hands during trading, a decline of 68% from the average daily volume of 9,576,152 shares. The stock had previously closed at $0.41.

Mullen Automotive Stock Performance

The firm has a fifty day simple moving average of $1.51 and a two-hundred day simple moving average of $30.51.

Hedge Funds Weigh In On 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) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 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 Securities and Exchange Commission. 11.71% of the stock is currently owned by institutional investors and hedge funds.

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.